The gasoline price sign at Kassel’s Korner in Beaver Grove is shown at 8:30 a.m. today. (Journal photo by Kim Hoyum)

HARVEY — With worldwide oil prices skyrocketing, some gas stations in the central Upper Peninsula have hit the $4 mark for a gallon of gas.


The first area station found by The Mining Journal to charge $4 per gallon was Kassel’s Korner in Beaver Grove. The Journal learned of the price this morning while compiling its weekly Gas Gauge survey (found on this page).


Oil prices neared $126 per barrel today on the eve of the U.S. driving season as a weakening U.S. dollar drove investors to snap up commodities.


Light, sweet crude for June delivery rose to a record $125.98 a barrel in electronic trading on the New York Mercantile Exchange near midday before falling back to $125.75, up $2.06 on the day, by the afternoon in Europe.


On Thursday, the contract rose to a record close of $123.69 a barrel.


In London, Brent crude contracts also hit record highs before slipping and traded up $1.