Rising gasoline prices tightened the squeeze on Twin Cities drivers Monday, jumping to a record $3.42 a gallon for regular unleaded, on average, according to AAA. That's up from $3.05 a month ago.
Another day of record gas prices
April 22, 2008 at 3:06AM
Nationally, the average price rose for the first time to $3.50 a gallon -- with no sign of relief.
Crude oil set a record for the sixth day in a row, this time closing above $117 a barrel after an attack on a Japanese oil tanker in the Middle East rattled investors.
"It's killing us," said Jean Beuns, a New York cabdriver. "And it was so quick. Every day you see the price go up 5, 6, 10 cents more."
Diesel prices at the pump also struck a record high of $4.20 a gallon nationally, according to AAA and the Oil Price Information Service. That's sure to add to truckers' costs and drive up the price of food, clothing and other goods shipped by truck.
Diesel in the Twin Cities, after setting a record of $4.08 a gallon on Saturday, settled back to about $4.07 Monday.
Gasoline and diesel prices are expected to keep climbing as they trace the path of crude. Light, sweet crude for May delivery rose to a record $117.76 a barrel on the New York Mercantile Exchange before settling at $117.48, up 79 cents from Friday's close.
STAFF AND WIRE REPORTS
about the writer
The financial services company increased its marketing budget to $50 million with new ads to appear on TV, social media and podcasts.
