Crude oil settled at a new high, and retail gasoline and diesel prices reached new records as well, adding to the pressure on drivers planning road trips for the coming holiday weekend.
Drivers are now paying an average of $3.79 for a gallon of regular gas, according to a survey by AAA and the Oil Price Information Service. Diesel, used to transport a wide range of goods, now costs $4.52 a gallon.
Light, sweet crude for June delivery rose 76 cents to settle at $127.05 a barrel on the New York Mercantile Exchange.
Gasoline futures added 1.31 cents to settle at $3.2242 a gallon. Heating oil futures fell 2.77 cents to settle at $3.6751 a gallon. Natural gas futures lost 14 cents to settle at $10.954 per 1,000 cubic feet on the Nymex.