Gas prices continue to rise

Gas prices continue to rise

The national average price for unleaded gas now tops the $4 a gallon mark says AAA's Daily Fuel Gauge Report. The average price of regular gas jumped over the weekend, passing the once-unthinkable milestone just in time for the peak summer travel season.

AAA said gas prices have gone up an average of about 33 cents a gallon since this time last month. Analysts said that's about 90 cents since this time last year

Truckers and others with diesel engines under the hood have it even worse off. A gallon of diesel now sells for $4.762, up nearly a penny overnight. Prices hit a record atop $4.79 at the end of May.

Prices at the pump are expected to keep climbing, especially after last week’s surge in oil prices, which neared $140 a barrel in a record-shattering move on Friday.

While Americans who have to drive will feel the biggest squeeze, the increased prices also translate into higher costs for consumers and businesses, who will have to pay higher prices for food and other goods because of rising transportation costs.