Source Yahoo News:

Oil prices surged nearly $2 a barrel Thursday as the dollar fell against the euro and investors anticipated strong demand for diesel fuel in parts of China ravaged by Monday's earthquake. Gas prices, meanwhile, advanced past $3.77 a gallon.

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The dollar's long decline has been one of the driving forces behind oil's record-setting climb. Many investors buy commodities such as oil as a hedge against inflation when the greenback falls; also, a weaker dollar makes oil less expensive to investors overseas.

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