April 9, 2008
NEW YORK — The upward trend in energy prices showed no sign of abating Wednesday as gasoline set another record at the pump and crude oil reached its own milestone in the futures market.
The national average price of a gallon of regular unleaded gas rose 1.2 cents to a record $3.343 a gallon, according to a survey of gas stations by AAA and the Oil Price Information Service. With the peak summer driving season still to come and gas following crude higher, the fuel may well reach the retail price of $4 a gallon that the Energy Department is forecasting.
That sent light, sweet crude for May delivery as high as $112.21 on the New York Mercantile Exchange. That bests a trading record of $111.80 set last month
Source: USA Today