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Texas, nationwide gasoline prices continue to decline

COPPELL, Texas (AP) — Retail gasoline prices in Texas and nationwide continue to slide amid declining crude oil prices.

AAA Texas on Thursday reported the average price at the pump statewide has slipped 3 cents this week to settle at $1.58 per gallon. U.S. retail gas prices are down a nickel, to reach $1.77 per gallon.

Amarillo has the cheapest gasoline in Texas this week at an average $1.46 per gallon. Drivers in El Paso are paying the most statewide at an average $1.62 per gallon.

AAA officials say the imbalance between supply and demand has contributed to falling prices at the gas pump. Market fundamentals continue to point to supply outpacing demand.

In related news, Oil, gas companies lead early decline in stocks.

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