The national average gas price for a gallon of “regular unleaded rose 1.7 cents to $4.005, according the daily measure on the AAA’s Web site.
That surpassed the previous record of $3.989 set Thursday.
The milestone was expected after a surge in crude oil prices added more than $16 to a barrel of oil over the last 2 trading days. Crude settled at a record $138.54 a barrel Friday, up by $10.75, after setting an all-time intraday high of $139.12.
CNN reports that in a statement on Friday, “AAA urged gasoline station owners not to overreact to the single-day oil spike.”
“Consumers should not be overcharged for gasoline simply because the oil markets reacted so strongly to today’s news,” AAA said.
Putting perspective on the ever rising coast of gas, CNN notes that “so far this year, crude prices have increased more than 40%.” That’s right… 40% in just over 5 months.
The AAA survery shows that the average price per gallon “is $4 a gallon or more in 14 states and the District of Columbia.”
California pays the most for gasoline, averaging $4.436, with Alaska and Connecticut both at $4.296. Other states above $4 are Hawaii, Illinois, Massachusetts, Maine, Michigan, Nevada, New York, Oregon, Rhode Island, Washington and West Virginia.
Last Tuesday I saw that the price per gallon had risen to $4.43 at my local stations here in Los Angeles. This Wednesday, I leave for a 2 day trip to northern California to bring my daughter home for summer, from her first year in college. Needless to say, I dread receiving my gas card bill after the trip.