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Oil Price Drop Increases OPEC Friction

The New York Times reports that “Oil prices sank again on Monday, giving consumers more of a break and causing a split among OPEC leaders about what action should be taken, if any, to halt the slide.”  

“The price drop has led to a near free fall in gasoline prices in the United States. On Monday, the national average price for regular gasoline was $3.20, 9 cents lower than it was a week ago and 14 cents below the price a year ago, according to the AAA motor club.”  

“The price at the pump generally follows oil after a few days, leading energy experts to predict lower prices for the rest of the month at least.”

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