Gasoline still inching upward here

Gasoline prices gained a penny per gallon overnight in southeastern Pennsylvania and South Jersey, AAA Mid-Atlantic said today.

That puts today's average price in Philadelphia at $2.70 per gallon. South Jersey's average is $2.52. On Jan. 1, gasoline was $1.68 in southeastern Pa., and $1.44 a gallon in South Jersey.

The national average held at $2.67, the auto club said. A year ago it stood at $4.08 per gallon.

Crude oil prices, meanwhile, rose back above $72 a barrel today as investors picked up commodities after the U.S. dollar slumped on comments by Russian President Medvedev, who said the world needed new reserve currencies, the Associated Press was reporting.

Benchmark crude for July delivery was up $1.74 to $72.36 a barrel by mid-afternoon in Europe in electronic trading on the New York Mercantile Exchange.