Paying even more at the pump; gas prices hit record

By TIM HARLOW, Star Tribune

Last update: May 15, 2008 - 10:40 AM

The national average for a gallon of regular-grade gasoline hit another record today, coming in at $3.776 per gallon, according to an overnight survey of 85,000 filling stations conducted by AAA.

The increase is the fourth day this week that gas prices hit an all-time high and came as prices increased for the seventh consecutive week, with the cumulative increase totaling 46.3 cents, according to the Energy Information Administration.

In Minnesota, the average price of a gallon of regular-grade fuel is $3.68, up 3 cents from Wednesday, according to AAA's survey of 2,168 stations statewide. In the past month, the average price has shot up 45 cents. A year ago a gallon of gas was averaging $3.17.

Prices are expected to continue their upward march, at least through Memorial Day, analysts said. Some predict gas will hit an average of $4 per gallon in the coming weeks.

Gas hit $3.79 at one Twin Cities filling station today, according to a posting on www.twincitiesgasprices.com. On the low end, two stations were selling gas for $3.59. The metro area average was $3.688, AAA said.

Premium was going for $3.936 a gallon in the Twin Cities.

The average price for regular-grade gas hit record highs today, with $3.69 in Duluth, $3.662 in Rochester, $3.695, and $3.695 in St. Cloud, AAA said.