The Lundberg Survey of nationwide fuel prices recently reported that the current price of
$1.77 a gallon was a new record. Prices have risen about 26 cents per gallon this year,
according to the survey.
The previous high was in May 2001, when a gallon of regular
unleaded reached $1.76 a gallon. Although numerically the highest, the average price is
still below the inflation-adjusted prices reached in the early 1980s.
Most analysts are
expecting more record prices, as demand increases during the summer driving season.