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So much for low oil prices

They're supposed to work lock-step with the price of gasoline, right? Well, not so far. The Energy Department's weekly survey has the average price of self-serve regular in the L.A. area at $2.620 a gallon, up from $2.587 a week earlier. And get this: crude-oil futures finished the day at $56.09 a barrel, down 22 cents. Prices have fallen 13 percent in the past year.


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Recent stories on LA Observed:
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