Gasoline hits fresh record
Average price at the pump continues its streak above $4 a gallon.
NEW YORK (CNNMoney.com) -- Average gasoline prices around the country set another record high above $4 a gallon, according to a daily survey released Monday by the motorist advocacy group AAA.
The average price of regular rose to $4.080 a gallon, up three-tenths of a cent from the previous day, according to AAA's Web site. The average price-per-gallon of diesel fuel also hit a fresh record at $4.797 a gallon.
The average price of regular unleaded gasoline topped $4 for the first time more than a week ago after crude oil prices surged to a trading record above $139 per barrel.
Some fear the recent flooding in Iowa and Illinois, two of the country's leading corn-producing states, could drive up gas prices even further. Corn is used to make ethanol, a gasoline additive required by federal and state laws.
Regular was $3.792 a gallon on average at this time last month and $3.008 a gallon a year ago, according to the AAA. Diesel was $4.501 in the previous month and $2.889 a year ago.
Gas sells for more than $4 a gallon in over half the states. California continues to lead the nation in gas prices, with its average jumping to $4.60 per gallon. Alaska follows at $4.429 a gallon.
Missouri residents pay only $3.834 a gallon for gas, the nation's lowest average price. The second cheapest state for gas is Oklahoma, where prices average $3.842 a gallon.
The fuel price survey was conducted for AAA by Oil Price Information Service.