Oil prices jumped to a new record above $132 (U.S.) a barrel today after the US government reported that supplies of crude oil and gasoline fell unexpectedly last week. Gasoline inventories also fell and took the market by surprise. Gasoline inventories also fell which pushed prices at the pump higher. A gallon of regular gas rose overnight to a new record above $3.80 a gallon. In Canada the average price of gasoline is just shy of $1.30 a litre. In the past year, crude oil prices have more than doubled, pushing retail gas prices higher.