Takes More to Top Off the Tank

Takes More to Top Off the Tank

As some drivers hit the road for the Memorial Day weekend, they faced the sobering reality that it now costs $87 to fill a Ford Explorer SUV, up $14 from last year, and $72 to fill a mid-sized Honda Accord, up $12.

Gas prices, which took another jump overnight, are up nearly 20 percent, or 65 cents a gallon, over the past year to average nearly $3.88 a gallon for regular. Unlike this time last year, when gas prices hit their peak for 2007, pump prices show no sign of halting their daily assault on the record books.

The price of a gallon of regular gas rose 4.4 cents overnight to a record average of $3.875, according to AAA and the Oil Price Information Service. Diesel prices rose 5.9 cents to a record national average of $4.649.

Oil prices fluctuated ahead of the long holiday weekend. Light, sweet crude for July delivery rose $1.38 to settle at $132.19 a barrel on the New York Mercantile Exchange.

In other Nymex trading, June gasoline futures rose 6.63 cents to settle at $3.3960 a gallon. June heating oil futures fell 8.87 cents to $3.8656 a gallon, and June natural gas futures rose 16 cents to $11.857 per 1,000 cubic feet.

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