Gas prices hit new high

The price at the pump for unleaded gasoline hit an all time-high in Colorado Springs this morning, and rising crude oil prices could mean more pain at the pump.

Gas hit $3.67 per gallon Tuesday morning in the city, up a penny from Monday's price, the American Automobile Association said. Diesel fuel jumped .03 per gallon to also hit a record at $4.36 per gallon, AAA said.

A year ago, gasoline in Colorado Springs sold for $3.25 per gallon and diesel went for $3.16.

It could get worse as oil closed above $127 per barrel overnight for the first time ever and stayed there Tuesday on word that OPEC will not increase its output before its next meeting in September, the Associated Press reported..

Light, sweet crude for June delivery was up 20 cents at $127.25 a barrel in electronic trading on the New York Mercantile Exchange by noon in Europe.

The Gazette has your guide to the best gas prices in town, at GAZETTE.COM/GASWATCH.