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Gas costs less in Phila. area today

Gas cost less this morning, on average, throughout the Philadelphia region.

According to AAA Mid-Atlantic, the average for a gallon of regular no-lead in the five-county Philadelphia area was down 2 cents over the weekend, to $2.69.

South Jersey's average was down 1 cent, to $2.46.

The national average was down 2 cents, to $2.61.

In each case, the average was down 3 cents from a week ago.

Today, 13 states - one more than last week - have an average price at or below $2.50 a gallon, the auto club said.

The average for diesel was up 1 cent overnight, to $2.83, in the Philly area; up 2 cents, to $2.50, in South Jersey; and unchanged, at $2.62, in the nation overall.

Meanwhile, oil prices plunged nearly $3 to below $64 a barrel as dismal unemployment figures from the United States and Europe last week sparked investor doubts about any nascent economic recovery.

A significant fall in natural gas prices - a likely sign that industries are still struggling and unlikely to add jobs - as well as gains by the U.S. dollar and falling stock markets around the world all helped push energy prices lower.

By mid-afternoon in Europe, benchmark crude for August delivery was down $2.93 to $63.80 a barrel in electronic trading on the New York Mercantile Exchange. Earlier in the session, the contract fell as low as $63.40. It last settled on Thursday at $66.73.

 

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