Gasoline price tops $2 a gallon, highest since November

— -- USA-GASOLINE/PRICE:U.S. gasoline hits 2nd highest price for 2009-Govt

Gasoline topped $2 a gallon at the nation's gas pumps Thursday, according to the daily survey by AAA and the Oil Price Information Service.

AAA says the average price for a gallon of regular gas was $2.009 Thursday, up from $1.933 just a week ago and the highest price since Nov. 20, when the average in the AAA survey hit $2.02.

Tom Kloza, fuel-price analyst at OPIS says despite the recent rise, he doesn't expect gasoline pump prices to go too far this quarter. "We'll get some hype (about escalating fuel prices), but we will still see plenty of sideways action — $2.25 per gallon or so, tops, likely for second quarter," he says.

A year ago, the nationwide average price was $3.261 a gallon. Prices peaked in July last year at $4.114 a gallon.

Gasoline prices are rising because of higher crude oil costs, which account for about the half the cost of making motor fuel

Crude oil for future delivery was trading for $53.56 a barrel Thursday at the New York Mercantile Exchange, the highest level since December.

The weekly Energy Information Agency survey showed gasoline was most expensive on the West Coast and the Rocky Mountain states had the lowest regional average price.

The daily average price for diesel fuel was $2.202 Thursday, up from $2.176 Wednesday but down from $2.255 a month ago and $4.027 a year ago, according to AAA and OPIS.