Oil hit new highs today. Going to cost me more to fill up at the pump. Luckily, I don’t have to go much of anywhere.

Light, sweet crude for April delivery rose $2.75 to settle at a record $107.90 on the New York Mercantile Exchange after earlier setting a new trading record of $108.21

In other news, the Dow is down again. No surprise there considering.

Stocks sank Monday as oil’s surge above $108 a barrel and more worrisome signs for the financial sector led investors to extend last week’s losses. The Dow Jones industrial average fell more than 150 points while broader indexes showed steeper losses.

Down to 11,740.15 now. The economy is not exactly booming, economic slowdown Bush calls it. Recession I call it.