Texas Gas Prices Jump 14 Cents

Staff Report
The Associated Press

IRVING, Texas (AP) - Retail gasoline prices in Texas have gone up by 14 cents a gallon since last week.

AAA Texas reported on Thursday that the average price per gallon at the pump was $2.47. Prices increased 13 cents nationally to $2.62.

The increase was the state's highest since an 18-cent bump in May 2008.

Houston and Galveston had the lowest price at $2.43 a gallon, up 17 cents in Galveston and 16 cents in Houston. El Paso continues to have the most expensive gas at $2.51, up 10 cents in the last week.

The auto club cites energy experts who believe the increase is due to traders buying and storing petroleum products in anticipation of an economic recovery.