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Tuesday, October 7, 2008, 5:36 am
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Gas Prices Hit Record High

The national average gas price hit a record high on Tuesday.

The average price for a gallon of gas went up to $3.08 and lawmakers said refineries won’t be at full gas production capacity until June.

"Even if crude oil is not, we would expect prices as low, maybe drifting down to $2.75 by the end of summer with a floor under it of about $2.50 to $2.60," Global Insight’s Kevin Lindemer said.

Analysts said summer gas prices are vulnerable to political tensions in the Middle East and hurricane season in the Gulf.

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