Crude oil prices continue to shatter record highs, topping $77 a barrel Friday.
Violence in the Middle East and Nigeria posed a threat to supplies, prompting the run-up in crude oil prices.
On Friday morning, oil was trading for $77.69 a barrel. The price smashed records set last week when a barrel topped $75 for the first time. One month ago, oil was trading for less than $70 a barrel.
Drivers have not yet seen the increases at the pump, as gasoline prices are slightly down from earlier this week.
The average price of regular unleaded gasoline nationwide was $2.96 a gallon Friday, down 1 cent from Tuesday, July 11, according to AAA, of Hawthorne, Fla.
Midgrade and premium gasoline prices were also down 1 cent a gallon from three days ago. Midgrade sold for an average of $3.14 a gallon and premium for $3.25 a gallon.
Diesel fuel was selling for an average of $2.98 a gallon, also down 1 cent from Tuesday.
AAA's Daily Fuel Gauge Report gathers data from as many as 85,000 filling stations nationwide and posts its findings on www.fuelgaugereport.com.
GasPriceWatch.com spotters found a station in Needles, Calif., charging almost $1 above the national average for regular unleaded, with a pump price of $3.89 a gallon. In Liberty, S.C., spotters found gasoline selling for $2.55 a gallon, the lowest price seen in the country.
GasPriceWatch.com uses volunteer spotters to watch gasoline prices nationwide. More than 416,000 prices have been listed this week.
You may e-mail Erin Robinson at [email protected]