Hawai'i had the highest average price in the nation, followed by California ($2.644), Nevada ($2.572) and Washington state ($2.551), the automobile association said. Hawai'i's record high was 2 cents higher than yesterday, 10 cents higher than a month ago and about 33 cents higher than a year ago.

The national average also hit a record $2.339 today, according to the association. Maui had the highest fuel prices in Hawai'i at $2.899 a gallon for regular. On the Big Island, the average was $2.727, less than a cent off its record high reached last week. Honolulu's average was $2.578.

CFTC settles fraud case with Hawai'i, California men

The Commodity Futures Trading Commission has settled a "commodity pool fraud" case against Barry Schotz, of Kilauea and a California man.

The U.S. District Court for the Central District of California issued two consent orders settling the CFTC's charges originally filed in October.

The complaint alleged that from August 2003 to October 2004 Schotz fraudulently operated a commodity pool called the Bear Invest Fund, according to the CFTC. The complaint also alleged that Randolph Gale of Hidden Hills, Calif., became associated with Schotz and helped him solicit funds without being registered with the CFTC. Gale was not charged with fraud.

In the Schotz consent order, the court found that Schotz fraudulently solicited and accepted about $5 million for the Bear pool from at least 51 participants, most of whom lived in the Los Angeles area. The court further found that Schotz' trading with the Bear pool's funds consistently lost money, while Schotz falsely reported to pool participants that the pool was making money.

The court ordered Schotz make restitution to customers totaling $2.9 million and pay a civil penalty of $1.6 million. Schotz agreed to the order without admitting or denying the allegations. Gale also did not admit or deny allegations against him.