Gas prices hit all-time record high for early Feb

Consumers have been spending more on gasoline than they have in nearly three decades.

With pump prices at their highest level on record for this time of year, the stage is set for an even greater climb in gasoline prices and expenditures than in 2012. Retail gasoline prices have surged 17 cents in a week to top $3.50 a gallon on average, posting the highest prices on record for the beginning of February. (Read More: Gasoline at Highest Price Ever for This Time of Year.)

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