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Gasoline prices edge upward to 2009 high

The average price of a gallon of regular rises 0.2 cents to $2.987 in California and 2 cents to $2.694 nationwide, topping the previous high of $2.691 on June 22.

November 03, 2009|Ronald D. White

Retail gasoline prices barely budged over the last week in California and around the nation, the Energy Department said Monday, but that was still enough to bump the U.S. average to its 2009 high.

The average price of a gallon of regular gasoline in California was almost unchanged, rising just 0.2 cents to $2.987. California had been spared in the recent price rise around the nation because its refineries had already reined in production months ago, well ahead of similar moves by refineries in other parts of the U.S.

The U.S. average rose 2 cents to $2.694 a gallon, topping the previous high of $2.691 set June 22, according to the Energy Department's weekly survey of filling stations.

It was a fairly quiet day on the oil markets as well. Light sweet crude oil futures for December delivery climbed $1.13, or 1.5%, to $78.13 a barrel, buoyed somewhat by encouraging economic growth numbers out of China but held in check by continuing concerns over the strength of the U.S. economic recovery.

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