Price of Gas Continues to Rise
Associated Press
2008-05-09 13:22:01.0
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The surge in the price of oil continues to push gas prices higher.
A survey of stations by AAA and the Oil Price Information Service finds that the price of a gallon of regular gas jumped 2.6 cents overnight to a record of $3.67.
The Energy Department expects prices to peak at a monthly average of $3.73 in June, though many analysts say national average prices could rise as high as $4.
Consumers in many regions, including parts of California and Hawaii, are already paying that much.
According to AAA's daily fuel gauge report, the average price for regular in Alabama rose almost three cents Thursday to $3.57 a gallon.
Oil on Friday rose above $126 a barrel for the first time.
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(Copyright 2008 by The Associated Press. All Rights Reserved.)
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