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.

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