NEW YORK (CNNMoney.com) -- Gasoline prices have soared to levels never seen before as even the inflation-adjusted price for a gallon of unleaded topped the 1981 record spike in price that had stood for 26 years.Who wants to put money on gas at $4/gallon by August? Do I hear $5? Oil at $90/barrel?
And higher prices could be on the way as Americans get ready to hit the road for the Memorial Day holiday and the start of the summer driving season.
The Lundberg Survey, a bi-weekly gas price tracking service, put the price of a gallon of unleaded at $3.18 in its latest reading released late Sunday, up more than 11 cents from its reading of two weeks ago.