With the recent surge in oil prices, it should come as no surprise that we are getting hit hard at the gas pumps, and according to AAA, prices moved to a new record high last night of $3.303 for a gallon of regular unleaded.This is the second day in a row that gas prices have set new highs, after jumping more than a penny overnight. At these current levels, prices are now a massive 22% higher than they were this time last year.
Congress has been trying to get to the bottom of the situation, and earlier this week they heard testimony from executives of 5 of the world's largest oil companies regarding the current price explosion. Some analysts are predicting that Congress may have to step in to take some action to help combat the record-high prices by making the purchase of high-risk oil contracts tougher to do, which could lead to lower prices. Whether or not that takes place remains to be seen.
Every day as I watch oil prices, I keep waiting for the market to take a breather and bring prices back down, but it just isn't happening yet. Prices are on the move yet again today, setting another new record, 
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