US gasoline prices hit record as crude rises

American motorists are paying record-high prices at the pumps in the run-up to summer vacation season as operating problems at the nation’s oil refineries cut deeply into fuel stockpiles, travel and auto group AAA said yesterday.

US average gasoline prices climbed to a record-high average of $3.073 a gallon yesterday, narrowly exceeding the previous peak hit after hurricanes knocked out refineries on the Gulf Coast in 2005, according to the daily survey of 85,000 service stations.

GulfNews