Gas prices extend record climb(national avg. $2.159)

[RedEarth]

NEW YORK (CNN/Money) - Gasoline prices continued to climb Thursday, extending a trend that has seen record prices every day for almost two weeks.

The average price of a gallon of regular unleaded gas rose to $2.159, according to AAA, the largest U.S. motorist organization formerly known as the American Automobile Association.

On average, gas prices are highest in Hawaii at $2.458 for a gallon of regular unleaded; they are the lowest in New Jersey at $1.981. New Jersey was the only state in the union where motorists could top off the tank for less than $2 a gallon. The previous high, reached before the latest run-up, was $2.054, notched May 26, 2004, according to AAA.

Although the price of crude oil has eased in recent days, long-term price supports for crude remain intact -- including strong demand from the United States, rising demand from China and lower non-OPEC production. According to analysts, 40 percent of each barrel of crude goes toward gasoline production.

The long-term outlook for gasoline prices also remains strong, which may mean higher prices at the pump for the near future.

http://money.cnn.com/2005/03/31/news/economy/aaa_gas_prices/index.htm?section=money_latest

[bluestateguy]

1. If we could just drill for oil in ANWR the price would drop to $2.149

In about ten years.

[mhr]

2. For Those That Are Curious - US Energy Flows - Oil And Otherwise

[progressoid]

3. Thanks!