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Gas Prices Fall While Oil Futures Rise

NEW YORK -- The pressure of higher gasoline prices on consumers eased further Thursday as retail gas fell a cent and edged back toward a national average of $3 a gallon. Crude oil futures advanced, according to the Associated Press.

Prices at the pump averaged $3.034 overnight, according to AAA and the Oil Price Information Service. Retail gas has been falling for several weeks since peaking at $3.112 as crude oil was approaching $100 a barrel.

Analysts expect gas prices to keep falling as long as oil is also generally in a decline, and they say gas could return to mid-October levels of around $2.76 a gallon.

Posted by Peter C. T. Elsworth  at 1:11 PM to Gas prices | Permalink

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