Texas gas prices soaring - KTRE.com | Lufkin and Nacogdoches, Texas

Texas gas prices soaring

IRVING, Texas (AP) - Retail gasoline prices soared across Texas this week.

The weekly AAA Texas survey released Thursday showed the average price of regular unleaded gasoline spiked 8 cents from last week to $2.75 per gallon. 

Nationally, the average price rose 7 cents to $2.86 per gallon.

The cheapest fuel is found in San Antonio, where regular unleaded is averaging $2.68 per gallon despite a 7-cent spike from last week.

The most expensive gasoline in Texas is in Beaumont, where the average price rose 11 cents to $2.80 per gallon.

An auto club statement attributes the increase to crude oil prices boosted by investor optimism over a resurging economy. It also notes the approaching summer peak driving season, although gasoline supplies remain high despite refineries operating at less than full capacity.

Copyright 2010 by The Associated Press.  All Rights Reserved.

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