Missouri Bicycle News

Gasoline prices have soared to levels never seen before as even the inflation-adjusted price for a gallon of unleaded topped the 1981 record spike in price that had stood for 26 years. . .

The Lundberg Survey, a bi-weekly gas price tracking service, put the price of a gallon of unleaded at $3.18 in its latest reading released late Sunday, up more than 11 cents from its reading of two weeks ago.

While gasoline had already been in record territory in current dollars, Trilby Lundberg, publisher of the survey, said this is the first time that her survey topped her 1981 record high when adjusted for inflation.

The price of $1.35 in 1981 works out to $3.15 in current dollars, she said. The Iran-Iraq war, which started the year before, choked off oil supplies to the global market, causing that spike in prices. . . .

AAA warned in congressional testimony last week it believes that more record prices could be on the way. It is forecasting prices will approach $3.25 a gallon over the next 60 days.