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DrumBeat: June 26, 2008

Posted on June 26, 2008

Analysis: Americans may hold a key to gas pricesWASHINGTON A decline in Americans' demand for gasoline is keeping record prices from skyrocketing even further, a USA TODAY analysis of gas and oil prices shows.The price of crude oil has nearly doubled in the past year, while gas has risen in the U.S. by about one-third, according to statistics kept by the Energy Information Administration. Oil prices are being driven up by rising demand in developing nations. But U.S. drivers have cut back, causing a 1% drop in demand for gas this year compared with the same period in 2007. That has forced ...

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