Gasoline, Oil Hit New Record Highs

By: Associated Press Email
By: Associated Press Email

New York (AP) Seems everywhere one looks, energy prices are rising.

At the pump, the national average for regular unleaded gasoline has topped $3.50 a gallon, according to AAA and the oil price information service.

Crude oil settled at a new record in New York at $117.48 a barrel, up 79 cents from Friday's close. For crude, the move higher came after a Japanese oil tanker was attacked in the middle east.

Gas prices are expected to keep climbing, just like crude, which has surged to new records for six trading sessions in a row. Oil prices are rising along with a host of commodities, from corn and wheat to gold and platinum, that are enticing speculators seeking hedges against a weak dollar.

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