U.S. News

Gas Prices Hit a Record


With the price at the pump hitting record highs, the head of the Energy Department's Energy Information Administration is set to brief lawmakers this morning on the gasoline outlook for the summer.

The E-I-A says the average retail price of regular gas jumped almost a nickel a gallon this past week, to more than three dollars and ten cents a gallon.

That's more than four cents higher than the previous record, which was set in the wake of Hurricane Katrina.

Gas prices have risen more than 93 cents a gallon since hitting their low point this year in January.

Analysts say prices are higher because of reduced refinery operations lower-than-usual gas inventories.