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Gas, oil prices hit record high in U.S.

Gasoline and oil prices rose to record highs March 12 in the United States. Gas at the pump cost $3.25 (¥334) per gallon, and light sweet crude oil cost $110.20 (¥11,334) a barrel.

Combined with the falling value of the dollar, a drop in housing values, and rising food prices, this will seriously affect American consumers.

Economists are also concerned that the rise in prices is increasing inflation around the world, and especially in the United States. (AP)

Shukan ST: March 21, 2008

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World News Gas, oil prices hit record high in U.S. Gasoline and oil prices rose to record highs March 12 in the United States. Gas at the pump cost $3.25 (¥334) per gallon, and light sweet crude oil cost $110.20 (¥11,334) a barrel. Combined with the falling value of the dollar, a drop in housing values, and rising food prices, this will seriously affect American consumers. Economists are also concerned that the rise in prices is increasing inflation around the world, and especially in the United States. (AP) Shukan ST: March 21, 2008 (C) All rights reserved