Jan. 2 (Bloomberg) -- Gasoline and heating oil futures advanced to records after crude oil touched $100 a barrel for the first time amid forecasts for a drop in U.S. inventories and unrest in Nigeria.

Rising futures prices may mean Americans will pay more for gasoline at the pump and more to heat their homes. The average retail price for regular-grade gasoline yesterday was $3.049 a gallon, 31 percent higher than a year ago, according to AAA, the nation's biggest motoring club. Crude accounts for more than 60 percent of gasoline's pump price.

``Higher gasoline and heating oil prices are going to cut into consumer spending, going to prompt increases in inflation because of the goods and services affected by energy, and we'll see higher food prices,'' said Andy Lipow, president of Houston- based Lipow Oil Associates LLC.

Gasoline for February delivery rose 7.81 cents, or 3.1 percent, to settle at $2.5689 a gallon on the New York Mercantile Exchange. Prices reached $2.5784 during today's session, the highest for a contract closest to expiration since the reformulated contract began trading in October 2005.

Heating oil for February delivery rose 9.1 cents, or 3.4 percent, to settle at $2.7404 a gallon after earlier touching a record $2.7465, the highest for a contract closest to expiration since the futures began trading in 1978.

Inventory Survey

Crude oil supplies fell to a three-year low last week, falling 2.25 million barrels in the seven days ended Dec. 28, according to the median of 11 estimates by analysts in a Bloomberg News survey. Supplies of distillate fuels, which include heating oil and diesel, may drop 600,000 barrels, and gasoline stockpiles may gain 1.75 million barrels, according to the survey.

The Energy Department's weekly inventory report is scheduled for release tomorrow.

``There's the expectation that stocks are going to draw tomorrow,'' Lipow said. ``The rest of the complex is going up in sympathy with crude.''

Oil also rose on violence in Nigeria that has cut almost 500,000 barrels a day from output by Africa's biggest producer.

Higher crude and product prices were also driven by a weaker dollar, forecasts for colder weather in the U.S. Northeast and political turmoil in Pakistan after the Dec. 27 assassination of ex-prime minister Benazir Bhutto.

``Almost always after the holidays you see aggressive action with a lot more traders in the market, so whichever way the market starts to go, that accelerates it,'' said Michael Smith, president of T&K Futures & Options in Port Saint Lucie, Florida.

Crude oil for February delivery rose $3.64, or 3.8 percent, to settle at $99.62 a barrel on the New York exchange after hitting $100.

To contact the reporter on this story: Barbara Powell in Dallas at Bpowell4@bloomberg.net

Last Updated: January 2, 2008 16:41 EST