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US Gasoline Prices at All-Time High - 2004-03-23

The American Automobile Association says U.S. gasoline prices hit an all-time high Tuesday.

The average price for a gallon of fuel is $1.738 per gallon. That works out to just under 46 U.S. cents per liter.

The AAA bases its price data on surveys of 60,000 gas stations across the United States.

The association's Geoff Sundstrom says U.S. regulations intended to reduce air pollution from automobiles are one reason for rising prices. He says the regulations force refiners to make many different blends of gasoline for different parts of the United States, which complicates product distribution.

He says officials should review the regulations to see if they can be simplified to meet clean air goals at less cost.

Other experts say recent high crude oil prices and rising demand for oil also play an important role in the price spike.

Some information for this report provided by Reuters.