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"Investors were buying on Iran fears and on general expectations for a stronger economy," energy consultant Cameron Hanover said in a report. However, "it's hard for the economy to grow with gasoline and oil prices as high as they are." Some analysts are more optimistic that the U.S. economy can continue improving despite higher fuel costs. U.S. retail gasoline prices rose to an average of $3.74 per gallon this week, 31 cents higher than a month ago. "Just like we have managed to recover the past few years with gasoline well above $3, we'll make our way above $4 and even $5," Carl Larry of Oil Opinions and Outlooks said. In other energy trading, heating oil fell 3.16 cents to $3.2437 per gallon and gasoline futures were down 4.26 cents at $3.3091 per gallon. Natural gas rose 2 cents at $2.483 per 1,000 cubic feet.
[Associated
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