General Motors sped away from the competition, as the auto maker beat rival Toyota in June sales.

GM sold more than 70,000 cars and trucks than Toyota did last month.

The Japanese company was expected to fare better because it has a lineup of small fuel-efficient cars, something in great demand by drivers, as they look to save money on rising gas prices.

But the news isn't all good from gm, as sales dropped by 18 percent last month.

Investors are worried the sluggish economy is keeping Americans from buying big cars.

Meanwhile, oil prices are back at near-record highs, buoyed by persistent weakness in the dollar and heightened tension between Israel and Iran.

The International Energy Agency issued a report saying oil consumption has fallen in most western nations, which tend to have a more gas-guzzling SUVs than emerging nations in Asia.

"The general trend is, if you look at production over the last several years, production actually has been declining, while demand has been going up, when you look at the emerging markets, China, India, so it's a longer term trend,” said trader, Randy Rothenberg.

Amid record gas prices, public support for greater oil exploration is spiking.

A recent poll by Fox News found more Americans are giving it a higher priority than more conservation.

An increasing proportion also says that developing new sources of energy - rather than protecting the environment - is a national priority.