U.S. retail prices for regular gasoline hit a record average of $2.055 a gallon on Thursday, according to motorist club AAA (search).

Gasoline prices have risen with soaring crude oil prices propelled by growing demand especially in China and India.

When adjusted for inflation, the highest price for gasoline was over $3.00 a gallon in the spring of 1981, according to the U.S. Department of Energy (search).