The previous record was $3.03 per gallon on Aug. 11.
But despite inventory fears that have sent prices higher, there are signs that prices may be peaking.
Just two weeks ago, the
The nationwide average for midgrade gasoline was $3.18 and premium was $3.28.
The nation"s lowest average pump price was $2.80 per gallon in
The recent increases are mostly because of refinery problems, Lundberg said, noting there have been at least a dozen additional partial shutdowns in the United States and internationally.
One of the nation"s largest refineries, a BP PLC plant in
Other examples include a 170,000-barrel-per-day plant in
Summer driving begins Memorial Day weekend, and analysts worry refineries won"t be producing enough gasoline by then to meet demand.
Despite prices at the pump climbing past the $3 mark, analysts have said the inventory fears can only go so far, as evidenced by recent declines in oil and gas futures.
Retail prices generally lag the futures markets, so consumers can end up paying more for gas even as futures prices drop.
Gasoline futures for June delivery have dropped in the last week, falling 3.12 cents Friday to settle at $2.2164 a gallon on the New York Mercantile Exchange.
PIN/HERALDNET.COM
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