Gas Prices in U.S. Hit 25 Year High

Washinton DC July 24, 2006; The AIADA newsletter reported that the average retail price of a gallon of gasoline topped $3 nationally last week, the highest price in 25 years, according to the latest nationwide Lundberg survey released yesterday.

The national average for regular unleaded gas was $3.0150 per gallon on July 21, up almost 2 cents per gallon from two weeks ago when the average was $2.9952, reports Reuters. Last week's national average exceeds by one-third cent a benchmark set last year after Hurricane Katrina caused a gasoline shortage, but still fell short of an inflation-adjusted record of $3.16 set in March 1981, said survey author Trilby Lundberg.

The Lundberg survey polled information from about 7,000 gas stations.