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Gasoline Falls on Speculation Superstorm Sandy Will Cut Demand

Gasoline fell on speculation that demand will decline on the East Coast as Atlantic superstorm Sandy causes widespread flooding and power outages.

Futures sank as at least 3.6 million homes and businesses lost power yesterday, the U.S. Energy Department said. Philadelphia Energy Solutions said it is restoring normal operations at its 355,000-barrel-a-day refinery in Pennsylvania. The storm came ashore in southern New Jersey at 8 p.m. local time yesterday, driving floodwaters to life-threatening levels.