Retail gas prices soar to fresh record

With nationwide prices at an all-time high of $3.645 a gallon, drivers now pay 20% more than they did last year.

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Last Updated: May 8, 2008: 6:28 AM EDT

Retail gas prices have hit a new record at $3.645 a gallon, according to AAA.

NEW YORK (CNNMoney.com) -- Retail gasoline prices have jumped to new record high, auto group AAA's Web site showed Thursday.

The national average price for a gallon of regular unleaded gasoline rose to $3.645, surpassing the previous record set May 1.

Gas prices have been marching steadily higher since the start of the year.

Drivers now pay 20% more than they did a year ago, when a gallon of gas cost on average $3.034.

The price of gas has been pushed up by record high crude prices. Crude futures closed at an all-time settlement high of $123.53 a barrel Wednesday.

First Published: May 8, 2008: 6:17 AM EDT

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