West Texas Intermediate crude rose to US$114.80 a barrel in Wednesday trading on the New York Mercantile Exchange, breaking the record of US$112.21 set last week.
And in Singapore, Tapis also rose to new records, rising throughout the week to close at $122.23 yesterday.
The US Energy Department said on Wednesday that inventories of gasoline fell 5.5 million barrels last week, a much bigger decline than forecast by analysts, Dow Jones Newswires reported.
Crude inventories were also down by 2.3 million barrels.
The surge in oil prices reflected concerns about how much gasoline would be available during America's driving season.
Oil prices were also boosted by the falling dollar, which declined to a new low against the euro on Wednesday
