The national average for regular unleaded gasoline is up 49 cents from a year ago, surpassing the old record of $2.33 set in July by a penny. That is according to a survey of gasoline stations conducted by the U.S. Energy Information Agency.
Gasoline prices were hitting the record levels as President Bush signed the new energy bill. Oil and gas price experts say oil could reach $70 a barrel this fall before receding in the winter.
Source: ConsumerAffairs.com