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That's a $5-a-barrel drop from just last week because of falling demand - as well as early indications that Hurricane Ike spared much of the Gulf refinery operations. The big oil drop won't do much for gas prices this week in portions of South and Midwest. They've skyrocketed because of short-term supply problems. But there are no signs of price run-ups in California.
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.