Pump Prices Surge

Pump prices surge to record high - $2.33 a gallon

Gas prices have hit a record high national average of two dollars, 33 cents a gallon, according to the biweekly Lundberg Survey.

Analyst Trilby Lundberg says prices were pushed up by the climbing cost of oil and strong demand now that it's the summer vacation season. Motorists could have more bad news on the way: Hurricane Dennis is threatening to be the fourth storm in recent weeks to hamper Gulf of Mexico oil production, which could send pump prices to even higher levels.

The record price, based on figures compiled Friday, was up nearly a dime from the survey two weeks earlier. According to the survey, self-serve regular averaged two dollars, 31 cents a gallon nationwide.