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Phila. gas prices about steady; oil nears $122

The average price for a gallon of regular no-lead held steady overnight in South Jersey at $3.88, according to AAA Mid-Atlantic.

    by early afternoon in Europe, light, sweet crude for July delivery fell 10 cents to $122.20 per barrel in electronic trade on the New York Mercantile Exchange. The contract had risen as high as $123.25 earlier in the session., ASSOCIATED PRESS AND INQUIRER REPORTS
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The average price for a gallon of regular no-lead held steady overnight in South Jersey at $3.88, according to AAA Mid-Atlantic.

The average price moved up a cent, to $4.05, in the five-county Philadelphia region, and also moved up a penny at the national level, to $3.99.

The price for a gallon of diesel held steady in the five-county Philadelphia region at $4.05, dropped a cent in South Jersey, to $4.72, and dropped a penny at the national level, to $4.77.

Oil prices fell closer to $122 a barrel today as investors become more wary of falling global demand and a strengthening dollar, despite an explosion at a Kuwaiti petrochemical plant.

Yesterday, it fell $2.01 during the floor session to close at $122.30, its lowest settlement since May 6. Changing expectations over global demand were seen as the main cause for the drop.