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Oil passes $120, gas prices slip more than a cent

NEW YORK -- Oil futures surged to a new record over $120 a barrel Monday, raising concerns about higher prices for gasoline and goods and services throughout the economy, according to the Associated Press.

Retail gas prices fell more than a cent over the weekend, but oil's advance increased the likelihood that pump prices would resume their climb.

Posted by Peter C. T. Elsworth  at 3:46 PM to Crude oil market | Permalink

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