Confirming that article: National Gas Prices Surge To New Record
Price Hits $3.28 Nationally
POSTED: 4:51 am PDT March 14, 2008
UPDATED: 6:07 am PDT March 14, 2008
kirotv.com
The average price of gasoline nationwide reached a record $3.28 a gallon Friday, according to a AAA gasoline price survey.
It's the second day that gas prices hit a record, rising a cent higher than Thursday's price. It also was the fourth all-time high in as many days.
Regular was an average price of $2.972 at this time last month and $2.549 a year ago.
States in the western part of the country had the highest prices, with California leading with an average of $3.62 a gallon. Alaska, Oregon, Washington and Hawaii all paid over $3.40 a gallon, CNN reported.
Maui, Hawaii, is No. 1 in gas prices, and the island is on the verge of becoming the first area in the nation to average $4 for a gallon of regular.
New Jersey still had the cheapest gasoline in the nation at $3.04 a gallon on average. Wyoming and Missouri residents also pay less than $3.10 a gallon.
When adjusted for inflation, gas prices are still below their peak, CNN reported. The record on that basis was $3.405 and set in March 1981, according to the Energy Information Administration.
The fuel price survey was conducted for AAA by Oil Price Information Service.
Oil prices retreated Friday from a record of $111 a barrel hit in the previous session as investors fled the declining dollar in search of a haven in commodities.
Analysts attributed the decline as part of the volatility that has characterized crude futures trading in recent weeks. |
