Tuesday, April 15, 2008

Fuel prices strike fresh records

Nationwide average price for a gallon of regular gasoline hits all-time high of $3.386, AAA survey shows; diesel rises to record $4.119 a gallon.

The average prices of gasoline and diesel fuel have reached new record highs, a AAA survey showed Tuesday.

The average price of regular unleaded gasoline rose more than a penny to $3.386 a gallon from $3.373.

Gas prices are up 18.5% from where they were last year. A month ago, the nationwide average was $3.285 a gallon.

Gasoline prices normally rise during the spring as people travel more. However, record fuel prices have also been supported by high crude prices as shrinking profit margins have caused refiners to pull back on production.

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