Business notes

NATIONAL

GAS, CRUDE OIL SET NEW HIGHS

Gasoline and crude oil jumped to new records Thursday, with gas rising 3 cents to an average national price of nearly $3.65 a gallon and oil crossing $124 a barrel for the first time. At the pump, the average price of a gallon of regular gas nationwide rose 2.7 cents to a record $3.645, according to a survey of stations by AAA and the Oil Price Information Service. Diesel prices also rose, adding 0.9 cent to match a record national average of $4.251 a gallon.

BUT IT'S A GOOD TIME FOR DISCOUNTERS

Caught in the maelstrom of higher gas and food prices, Americans -- even more affluent ones -- are seeking shelter in wholesale clubs and discount apparel chains. On Thursday, low-price operators Costco Wholesale Corp., Wal-Mart Stores Inc. and TJX Cos. reported better-than-expected sales, while traditional apparel chains JCPenney Co. and Limited Brands Inc. struggled.

AIRLINES RAISE FUEL SURCHARGES

The three biggest U.S. carriers said Thursday they have again raised ticket prices, this time by $20 round trip, to recoup rapidly rising fuel costs. The increases by American Airlines, United Airlines and Delta Air Lines affect the carriers' fuel surcharges, which now total $130 round trip on many flights. That means passengers on some cheap flights could be paying more in fees and taxes than for the airfare itself.

BEST BUY ENTERS EUROPEAN MARKET

Consumer electronics chain Best Buy Co. Inc. is establishing a foothold in the European market with a $2.1 billion investment in the continent's largest cell phone retailer, allowing the U.S. company to roll out its trademark big box stores in Europe, the companies said Thursday. London-based Carphone Warehouse Group PLC will put its 2,400 Carphone Warehouse and Phone House stores in Europe into the new joint venture. In a conference call with analysts, the companies said they have been speaking for four years and collaborating for two, developing the Best Buy Mobile concept for Best Buy stores in the United States and bringing Best Buy's Geek Squad, a 24-hour computer-support task force, to Europe.