Texas Gas Prices Jump Nine Cents

IRVING, Texas (AP) _ Retail gasoline prices across Texas spiked upward this week in the biggest gain since last Memorial Day weekend.

The weekly AAA Texas price survey released Thursday found that unleaded regular averaged $2.56 per gallon, 9 cents higher than last week. Nationally, regular unleaded averaged $2.71 per gallon.

AAA Regulatory Affairs Manager Andrew Delmedge says the two cold waves since Christmas week prompted investors to buy more crude oil futures contracts. Also, a dollar weakening against other currencies means it takes more dollars to buy oil. Consequently, crude oil is averaging $20 higher than the 2009 average of just over $62 per barrel.

The cheapest gasoline in Texas is in Corpus Christi, where unleaded regular averages $2.51 per gallon. The most expensive gas continues to be found in El Paso, where it averages $2.58.

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