Sudo does not find new python version

I had python2.6 on my linux box but installed python3.4 to use new modules. I installed it using sudo access. The new version was installed in `/usr/local/bin`. Without root access, I can use the new python3.4, both by just using python3.4 in the command line or using the shebang in the .py file `#!/usr/local/bin/python3` Now I am trying to install a module, for which I need sudo access. When I am root, and I run `python3.4`, it says `command not found`. I ran `whereis python` and found the path to python2.6 in `/usr/bin`, but `whereis python3.4` as root gives, `not found in /usr/bin`, which is correct since it is in `/usr/local/bin`. Again, if I exit from root, I have no trouble using python3.4 This seems like a `$PATH` issue (not sure), can some one help me what I am doing wrong while installing the module for the new python3.4? I was able to install the module, but it was installed in the old python2.6 site-packages.