Gas Prices Set Record High for 11th Consecutive Week

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The average price of gasoline hit another record high this week, at $4.04 per gallon of regular, the Energy Information Administration reports. That's 31% higher than a year ago, when $3-a-gallon gas seemed outrageously expensive.

Ah, the good old days.

So how high will prices go?

The EIA predicts that prices will peak at $4.15 in August, and then drop. But, take that with a grain of salt, since a prediction just one month ago had prices peaking in June. At $3.73 a gallon.

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