US gasoline prices hit an all-time high of $1.73 a gallon in March due to low stocks and soaring crude prices, and analysts warn that high prices may continue throughout the summer.

The average price, for the week beginning March 10, is higher than the previous record of $1.71 a gallon set in May 2001, said the Energy Information Administration (EIA) – the statistical arm of the US Department of Energy – in its weekly price report released on March 17.

But the EIA pointed out that in real