This post has been updated.

The conservative group Crossroads GPS has launched a new ad campaign in Virginia seeking to blame President Obama for high gas prices.

Crossroads says the television spot, titled “Too Much,” will run on both broadcast and cable networks in the Richmond, Charlottesville and Washington markets at a total cost of $204,000.

The Crossroads spot is a response to a recent Obama campaign ad, which also ran in Virginia, that touts his record on energy issues and notes that domestic oil production has gone up on his own watch. The narrator of the Crossroads ad accuses Obama of “taking credit for others’ hard work” — because some of the oil production is taking place on private land or was begun under the Bush administration.

“No matter how Obama spins it, gas costs too much,” the narrator concludes.

Pointing out that the group running the ad has financial ties to the energy industry, the Obama campaign said: “Once again, the big oil and gas companies are coming to Mitt Romney’s rescue. And it’s no surprise why: he has pledged to protect their tax breaks and eliminate protections against Wall Street speculators manipulating oil prices.”