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    Gasoline Prices Edges Upwards

    Retail gas starts February at $1.867 per gallon, but still much lower than last summer's record highs.

    NEW YORK -- Gasoline prices edged up a penny per gallon at the beginning of this month, according to a daily survey of credit card swipes. However, gasoline prices are still 37 percent lower than a year ago and 55 percent off their high of $4.114 per gallon in July 2008, according to CNNMoney.com.

    The price of gas hit a national average of $1.867 a gallon, up slightly from $1.855 a gallon on Saturday, according to AAA. Prices have been climbing since the beginning of 2009, rising about 14 percent in January, CNN reported.

    Auto sales continue to plunge and many drivers who stayed off the road during the summer high driving season because of record high prices are still using other modes of transport contributing to c-stores drop-off in motor fuel gallons sold.

    The drop-off in crude during the last half of 2008 helped push gas prices lower but as the year started the two prices were not always in sync, according to the report.

    That is largely due to two factors: lower demand and a lag as the product moves through the pipeline.

    Gas prices were above $2 a gallon Saturday in six states: Alaska, Hawaii, California, Nevada, New York and Washington. The cheapest gas was available in Wyoming, where a gallon cost $1.547.

    The AAA figures are statewide averages based on credit card swipes at up to 100,000 service stations across the nation.

    CSNews Editor-in-Chief Don Longo discusses the relationship between gas prices and convenience stores on the CSNews’ Spare Change blog. Click here to read his thoughts or post your own.

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