WASHINGTON – As oil prices topped $107 per barrel for the first time, gasoline price surveys reported that prices are now at record highs.

Late Monday, the U.S. Energy Information Administration (EIA) reported that gasoline prices increased more than 6 cents over the past week to reach $3.225 per gallon, slightly more than the previous weekly record of $3.218 that was set May 21, 2007. On Sunday, the Lundberg Survey reported that prices reached approximately $3.20 per gallon, also a record according to its biweekly survey. Meanwhile, AAA reported that daily prices on Monday reached $3.222, a half-cent from the record it reported on May 21, 2007, but many state averages are now at record highs.

EIA also reported that diesel fuel prices hit a new high of $3.819 per gallon, and are closing in on $4 in California where prices rose more than 15 cents for the week to reach $3.955 per gallon.

The new highs for gasoline and diesel fuel come at a time when the petroleum industry is about to undergo the spring transition to summer blend fuel, but the transition has yet to affect prices. "The price increase was entirely due to the higher costs of crude oil," Trilby Lundberg told the Associated Press.

And these oil prices continue to climb. On Monday, Nymex futures for light, sweet crude oil settled up more than $1.50 per barrel to reach a record close of  $106.72 after topping $107 earlier in the day.

To further help communicate the industry's voice about high gasoline prices, NACS has developed a pump sticker that can be used by NACS members. All NACS retailer member subscribers to NACS Magazine received a copy of the sticker in their March issues, which features the cover story, "$3.71: The Tipping Point for Consumers?" NACS retailer members can purchase more stickers – they are $5 for 10 – by contacting Trisha Frazier at (703) 518-4291 or tfrazier@nacsonline.com, or calling NACS at (800) 966-6227. 

Online, NACS published its annual gas price kit, which examines the basic conditions that affect the industry, including the 2008 Consumer Fuels Report that looks at how consumers say they are affected by high gasoline prices, especially at the pump.