Gasoline prices in Utah edge up another penny

Utah's rising gasoline prices keep right on shattering records.

The average for a gallon of regular unleaded gasoline in Utah reached another record Tuesday, of $3.62, up one penny from Monday and up 33 cents from one month ago, travel services agency AAA reported.

In the past year, unleaded gas prices in the state are up 42 cents.

Diesel drivers are feeling the most pain, with prices for their fuel reaching a record high Tuesday of $4.41, up 4 cents from Monday, 32 cents from one month ago and a hefty $1.35 per gallon from one year ago.

Nationally, the average price for unleaded fuel was at a record $3.73 per gallon. Diesel was also at a record high, $4.39 per gallon.

Oil prices shot to a record near $127 a barrel Tuesday on concerns that Iran may consider cutting crude oil production.

Light, sweet crude for June delivery rose as high as $126.98 a barrel before retreating to settle up $1.57 at $125.80.

- Lesley Mitchell

Deseret First

SBA honors SLC credit union as a top lender

Deseret First Credit Union of Salt Lake City

has been recognized by

the U.S. Small Business Administration's Utah District Office as the top medium-sized lender in the state for SBA-guaranteed business loans.

The credit union, which has assets of $440 million, was first in the category of financial institutions with assets of $100 million to $1 billion.

The SBA 7(a) loans that Deseret First offers range from $250,000 to $2 million and can be used to purchase businesses, land, buildings, machinery, equipment, fixtures, furniture, inventory and other business assets.

The SBA 7(a) loans can also be used for working capital and to pay loan closing or refinancing costs.

- Steven Oberbeck