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Gas Prices Spiking with Summer Travel

LCT Staff
Posted on May 30, 2007

WASHINGTON, D.C. — Americans are again feeling the heat of rising fuel prices as summer nears and crude-oil futures remain well above $60 a barrel. Average retail gas prices nationwide are at an all-time high of nearly $3.23 a gallon, according to AAA, up from $2.85 a month ago and the previous high of $3.06, hit shortly after hurricanes Katrina and Rita in 2005. They are even approaching their inflation-adjusted record of $3.23 a gallon, set in 1981. New Jersey is the only state in the Union where gas is less than $3 a gallon.

Source: Wall Street Journal

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