Retail gas prices soar to fresh record

With nationwide prices at an all-time high of $3.645 a gallon, drivers now pay 20% more than they did last year.

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Last Updated: May 8, 2008: 6:28 AM EDT

Retail gas prices have hit a new record at $3.645 a gallon, according to AAA.

NEW YORK (CNNMoney.com) -- Retail gasoline prices have jumped to new record high, auto group AAA's Web site showed Thursday.

The national average price for a gallon of regular unleaded gasoline rose to $3.645, surpassing the previous record set May 1.

Gas prices have been marching steadily higher since the start of the year.

Drivers now pay 20% more than they did a year ago, when a gallon of gas cost on average $3.034.

The price of gas has been pushed up by record high crude prices. Crude futures closed at an all-time settlement high of $123.53 a barrel Wednesday.

First Published: May 8, 2008: 6:17 AM EDT

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Markets	Last	Change
Dow Jones	9,021.31	570.12 / 6.75%
Nasdaq	1,771.57	122.06 / 7.40%
S&P 500	962.15	62.93 / 7.00%
10-year Bond	100 31/32	Yield: 3.88%
U.S.Dollar	1 euro = $1.351	-0.006

October 13, 2008 12:31 PM ET

Company	Price	% Change
Reliant Energy Inc	5.10	66.12%
Morgan Stanley	15.74	62.60%
Genworth Finl Inc	4.79	36.86%
Prudential Finl Inc	47.32	30.97%

Oct 13 12:25pm ET †

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