Gas prices on track to break U.S. record in 2012

This year is on track to be the most expensive ever for American drivers, as gasoline prices soared to all-time highs for September, the fifth record-breaking month in 2012, according to AAA. U.S. drivers paid an average $3.83 per gallon of regular gasoline last month, surpassing the previous September record of $3.72, set in 2008. Given ongoing social unrest in the Middle East and refinery troubles in the United States, fuel-price trackers say motorists’ wallets will be pinched through the rest of the year. Gas hit a $3.78 per gallon U.S. average price on Monday—16 cents higher than the previous record for the date on Oct. 1, 2008; in fact, pump prices have been at record levels for 43 days straight. “They’ll break daily records through the end of this year,” predicts Michael Green, AAA spokesman. “There have been a whole host of refinery issues this year. With the combination of high oil prices and low gas supplies, we are really seeing prices rise.” The highest U.S. gasoline prices ever occurred in July 2008, but the averages for that year were lower because pump prices later plunged along with the economy, and regular dropped from above $4 per gallon to below $2 in less than four months. Last year set the record for the average annual price, at $3.51. But the average so far this year is $3.64. The Louisiana average, as of today, is $3.58 per gallon. The Houston Chronicle has the full story and a graphic showing the price hikes here.