Complete Coverage Special Report Issue #1: America's Money - This week on CNN

Gas hits 8th straight record high

The price for a gallon of gas sets new all-time high at $3.776, according to AAA.

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May 15, 2008: 6:02 AM EDT

Photos

America's Money: Gas crunch hits home

The record-high price of gasoline is putting a strain on motorists - and spurring some to shift their habits. Here are their stories.

View photos

NEW YORK (CNNMoney.com) -- Retail gas prices hit record highs for the eighth day in a row, auto group AAA's Web site showed Thursday.

The nationwide average for a gallon of regular unleaded hit $3.776, up from the previous high of $3.758.

Gas prices have now risen for nine straight days. The pinch on consumers at the pump comes just ahead of the summer driving season, which kicks off with Memorial Day weekend.

The AAA national average shows gas prices up nearly 12% over the past month and up 20% from year-ago levels.

Retail gas prices have been pushed up by crude oil prices, which have doubled in the last 12 months.

Ditch that car, hop a train

Oil stockpile a drop in the bucket

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Big Thinkers

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Markets	Last	Change
Dow Jones	11,632.38	29.88 / 0.26%
Nasdaq	2,325.88	21.92 / 0.95%
S&P 500	1,282.19	5.19 / 0.41%
10-year Bond	98 2/32	Yield: 4.11%
U.S.Dollar	1 euro = $1.568	-0.001

July 23, 2008 12:00 AM ET

Company	Price	% Change
US Airways Group Inc	5.22	22.25%
Beazer Homes USA, Inc	5.54	16.88%
Washington Mutual Inc	4.85	-16.84%
C H Robinson Worldwide Inc	49.74	-15.34%

Jul 23 3:56pm ET †

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Plentiful jobs, excellent schools, affordable housing - America's best small cities have all that and more. more

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