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Economy & Business

U.S. Gas Prices Reach Record Level In 2012

DAVID GREENE, HOST:

NPR business news starts with record prices at the pump.

You may already have a sense of this from your bank statement, but now AAA has confirmed that the average price of a gallon of gasoline hit a record in 2012. The group says the national average for the year was $3.60. That is nine cents higher than the average in 2011, which was the previous record. For 2013, AAA thinks increased domestic oil production will help keep prices lower. Transcript provided by NPR, Copyright NPR.