BREAKING: Barrel of Oil hits $100.30, gas back over $3

A barrel of oil just hit $100.30 high today and while it might go higher or lower for the rest of the day, it seems trading over $100 is becoming normal. Why is this important? In the U.S., the price of gasoline is over $3 a gallon again, according to the EIA. With a barrel of oil reaching new heights, pump prices probably aren't headed down anytime soon.

UPDATE: Oil closed at $100.74 (see above).

[Sources: Reuters, CNBC]