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Oil falls as spending cuts loom; pump prices dip

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NEW YORK (AP) — Oil fell Friday to its lowest level of the year on worrisome economic developments in the world's two largest oil-consuming nations. The price of crude fell 1.5 percent and is down 6 percent in two weeks. That should allow drivers to catch their breath after a record rise in gas prices over the first two months of the year. The average price for a gallon of gas rose 49 cents...

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