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Gas Prices Soon Hitting Bottom

Gas prices are going down, but expert Tom Kloza says we will soon be hitting bottom.

Some analysts said a combination of rising demand for fuel and the long-term loss of crude oil exports from Libya eventually would begin to squeeze oil and fuel supplies. Tom Kloza, chief oil analyst for the Oil Price Information Service in New Jersey, said average gasoline prices would level out about 75 cents above the year-earlier average.

Kloza thinks prices may drift lower for a few weeks, but will NOT approach last year’s levels.

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