Phila.-area gas prices increase; oil tops $72

The number of layoffs declined in July, but right here, right in the very city where you live, you're likely paying more for gas. Even compared with yesterday.

The average for a gallon of regular no-lead went up 1 cent overnight in the five-county Philadelphia area, to $2.66, according to AAA Mid-Atlantic.

The average in South Jersey went up overnight by 2 cents, to $2.48.

The national average also was up by 2 cents, to $2.63.

Diesel prices also advanced overnight: by 1 cent in the Philly area, to $2.84; by 2 cents in South Jersey, to $2.52, and by 2 cents in the national average, to $2.63.

Meanwhile, oil prices recouped earlier losses and climbed over $72 a barrel after better-than-expected U.S. jobs data fueled hopes that the world's largest economy will soon be growing again.

The Labor Department reported that 247,000 jobs were lost in July, the lowest in a year, while the unemployment rate unexpectedly dipped to 9.4 percent, its first decline in 15 months.

Traders have bid up crude from below $62 a barrel last week on expectations the economy could grow by the end of the year.

By that time, "renewed investor hopes of an early recovery in the global economy have led to a sharp rebound in equities and oil prices," said a report from KBC Market Services in Britain.