Amid tensions in the Middle East and growing concerns about the stability of the dollar, the price of retail gasoline and the value of crude oil futures climbed to record levels Monday, June 30.

In figures compiled daily by AAA, the national per gallon price of gasoline stood at $4.086, up 0.7 cents from the day before and topping the June 16 all-time-high of $4.08. In the last month prices at the pump have seen a 2.9% hike and are a staggering 38% above the levels one year ago.

Generally the lag between a spike and crude prices and the price of gasoline at the pump is 3 to 5 days. The AAA survey found that Americans in 33 states and the District of Colombia are paying $4 or greater on average. Alaska has now surpassed California as the state with the most expensive fuel at $4.623. Californians are paying $4.583. Missouri has the least expensive gasoline at $3.862. Diesel is now averaging $4.762.

In electronic trading overseas, light, sweet crude for August delivery stood at $141.95 up $1.74 at approximately 10 a.m. Eastern Time on Monday. Although still staggeringly high, the prices retreated from the earlier record of $143.67, a price 50% higher than at the end of 2007.

Travel for the Fourth of July holiday is expected to be down by 1.3% with only 40.45 million drivers taking to the road as opposed to the 41 million who traveled last year.