Monday, May 12, 2008

Gas prices hit 5th straight record

Retail gasoline prices increased for the sixth straight day and hit their fifth consecutive record, auto group AAA's Web site showed Monday.

The national average price for a gallon of regular unleaded gasoline rose to a new all-time high of $3.718, up 1 and one-tenth of a cent from the previous day.

Crude prices, meanwhile, tumbled on the stronger dollar.

Drivers now pay 21% more for a gallon of gas than they did a year ago, when a gallon of gas cost on average $3.064, according to AAA.

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