The price of gasoline at the pump hit an all-time high Tuesday — nearly $1.74 per gallon nationwide — reflecting strong demand, tight supplies and the high cost of oil.

AAA, formerly the American Automobile Assn., reports that motorists are paying $1.738 per gallon for self-serve regular unleaded gasoline, one-tenth of a penny higher than the previous record set Aug. 30.

The average price in Lawrence is considerably less than the national average, according to AAA’s survey. On Tuesday, gasoline prices averaged $1.657 per gallon, nearly the same as a month ago, but down from a year ago when prices were $1.669.

Lawrence consumers, though, were still frustrated with the prices.

“They’re terrible,” said Tina Cates, a Lawrence resident who was filling up Tuesday at the Texaco station at 1733 Mass. “I think they’re just going to get higher.

Gasoline prices traditionally rise between March and May as refiners temporarily shut down their plants in preparation for the peak summer driving season, when special clean-burning blends of fuel are required. These shutdowns shrink supplies.

The effect on prices has been magnified because commercial inventories of gasoline are low. For the week that ended March 12, U.S. gasoline inventories stood at 199.6 million barrels, down from 202.1 million a year ago.