Average gas price declines, fails to drop below historic levels

11/28/2011 | Los Angeles Times (tiered subscription model)

The average U.S. price of gasoline dropped 6.1 cents to $3.307, according to the Department of Energy's weekly survey of service stations. But gas prices remain at historically high levels due to international demand for refined fuel and high oil prices. "As long as oil is hovering around $100 a barrel, gasoline prices are going to remain high," said Phil Flynn, an analyst at PFGBest Research.

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