Gasoline Slips on Weaker Demand, Drop in Industrial Production
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Gasoline slid to a three-week low amid weaker U.S. demand, a drop in industrial production and concern that the European debt crisis may worsen.
Futures fell 0.6 percent. Supplies are the highest since March and the four-week average total fuel demand fell 5.6 percent last week below 2010. U.S. factory output declined in November for the first time in seven months and Christine Lagarde, managing director of the International Monetary Fund, said Europe’s fiscal crisis is “escalating.”