Nevada gas prices soar to new record high

RENO, Nev. (AP) - Gasoline prices in Nevada, like the rest of the nation, continued to soar to new record highs Tuesday, jumping 43 cents from last month to an average price of $4.15 a gallon, AAA said.

The automobile and travelers association said new records have been set nearly every day since March, and prices are likely to continue their upward climb into June.

AAA spokesman Michael Geeser said several factors are to blame for gasoline's record-breaking escalation.

"These include the low value of the U.S. dollar compared with international currencies, the growing demand for gasoline and oil in Asia and the heavy trading of oil and other commodities in the market," Geeser said.

At $4.15 a gallon, Nevada has the fourth highest average price in the lower 48 states, according to AAA's latest monthly price survey. The average is 91 cents higher than a year ago.

In Las Vegas, prices skyrocketed 46 cents since May to an average $4.12, AAA said. Prices in Reno averaged the same, increasing 32 cents.

The highest gas in Nevada is in Elko, where the price rose 38 cents to $4.27.

Nationally, the average rose to $4.04, up 31 cents since May.

California had the most expensive gas in the nation, where the average cost of a gallon of self-serve unleaded climbed to $4.47.

The cheapest was found in Casper, Wyo., at $3.79.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


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