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NEW YORK: Gas prices have been on a tear, with the national average climbing more than 28% since late April, motorist group AAA said Thursday. The national average price for a gallon of gasoline now stands at 2.632, up from the previous day’s price of 2.627, according to a daily survey by AAA. Gas prices have risen daily since April 29, and are nearly 1 higher since the beginning of 2009. However, prices are about 1.50 cheaper than they were at this time last year. California had the highest gas prices in the nation. Drivers in the golden state pay an average of 2.945 a gallon. The state with the lowest price was South Carolina, where a gallon of gas averages 2.416.The run up comes on the back of a surge in the price of crude oil, which is the main ingredient in gasoline. Oil prices have more than doubled since the end of last year.At the same time, gas prices typically rise in the summer months, which is traditionally the peak driving season. While demand for gas remains relatively weak because of the nation’s economic woes, there are some signs that Americans are still willing to fill up their tanks. Government figures showed Wednesday that demand for gas over the most recent 4-week period returned to positive territory. This is the first time this year that demand rose versus the same period in ‘08.Another government report showed Thursday that retail sales rose in May, due in large part to higher gas prices and purchases of automobiles.

Source:CNN