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Oil slides toward multiyear lows

Published 02/12/2009, Associated Press

Pump prices still rising as refineries cut back on production
Oil prices slid closer to a new multiyear low today because of growing doubts that the $789 billion stimulus package will reinvigorate the economy and demand for energy. But retail gas prices reached a new high for 2009 today and appeared headed back to $2 a gallon as refiners cut back on production. Unleaded gas prices this morning in Grand Forks and East Grand Forks were around $2 a gallon.

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