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Gas Prices Rise to New National Record

NEW YORK -- Gasoline prices extended their record run at the pump Thursday, but took a breather in futures trading as investors collected profits from the previous session's huge advance, according to the Associated Press.

Crude oil futures, meanwhile, fell as the dollar stabilized and prompted selling by investors who previously bought crude as an inflation hedge.

At the pump, the national average price of a gallon of gas rose 0.2 cent overnight to $3.289 a gallon, according to AAA and the Oil Price Information Service. That's the latest in a string of records set as gas prices have followed surging oil futures higher.

Posted by Peter C. T. Elsworth  at 4:30 PM to Gas prices | Permalink

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