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Gasoline reaches another high
AAA: Diesel also soars on crude oil record, low inventories; California pays the most at the pump.
August 12, 2005: 2:05 PM EDT
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In some cities prices are beyond $3 a gallon. CNN's JJ Ramberg takes a closer look at high gas prices.
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NEW YORK (CNN/Money) - Gasoline and diesel prices stayed on their record-breaking course Friday, according to travel club AAA's daily fuel gauge report.

The nationwide average price of a gallon of regular unleaded gas rose to $2.413, according to AAA, the largest U.S. motorist organization formerly known as the American Automobile Association. That's about 57 cents higher than prices were a year ago.

On average, gas prices are highest in California at $2.718 for a gallon of regular unleaded; they're lowest in South Carolina at $2.254.

Retail diesel, meanwhile, averaged $2.497 a gallon, nearly 65 cents higher than the year-ago average.

AAA's report came on the heels of a fifth straight record high for crude oil futures, with the front month contract hitting $66.13 a barrel early Friday morning. (Full story.)

A report from the Energy Information Administration showing another fall in gasoline inventories in the world's biggest consumer also supported prices.

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Gas at $3 a gallon -- wanna bet? Click here.

Relief from high fuel prices may be just around the corner, but will it come soon enough? Click here for more.  Top of page

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