Gas prices up 1 cent; oil tops $64

Gas prices moved up again overnight in the region, according to AAA Mid-Atlantic.

The average for a gallon of regular no-lead was up 1 cent, to $2.56, in the five-county Philadelphia area. South Jersey's average also moved up 1 cent, to $2.36.

The national average was up 1 cent, too, to $2.52.

Diesel cost an average 2 cents more a gallon in the Philly area, at $2.78. South Jersey's diesel average was unchanged at $2.46.

The national diesel average was up 1 cent, to $2.58.

Meanwhile, oil prices rose above $64 a barrel as upbeat corporate earnings suggested the global economy is slowly recovering, though inventories data showed U.S. crude demand remains weak.

Benchmark crude for September delivery was up 92 cents to $64.27 a barrel by early afternoon European time in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract fell $3.88 to settle at $63.35.

Investor sentiment improved after several big companies in Asia and Europe reported good earnings.

In Japan, carmakers Nissan Motor Co. and Honda Motor Co. jumped 11.1 percent and 8.2 percent on strong profits. In Europe, BT Group PLC rose 12.7 percent and its French peer Alcatel-Lucent SA rose 7.7 percent after they also unveiled better than expected second-quarter earnings.

Crude prices have recently been tracking stock markets, but slid from above $69 earlier this week on investor concerns that demand in the United States would remain weak despite some economic improvements.