Average U.S. Gas Prices Hit Record $3.50 a Gallon

Blame it partially to the rising crude oil prices (over $118 a barrel on April 22, 2008), but the AAA and Oil Price Information Service reported today that averages gasoline prices at filling stations across the U.S. hit a record $3.50 a gallon on Monday, April 21, 2008.

For our European readers, that translates to $0.93 cents a liter or with the current exchange rates between the Euro and the U.S. dollar, €0.59 cents per liter of petrol - yes, we’re fully aware of the higher prices that Europeans pay for gas. Nationally, retail gasoline prices in the U.S. are up 23% from a year ago.