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OIL

PETROL prices could fall within the next two weeks following fears about the European debt crisis and the worldwide economy slumping back into depression.

Oil fell below $94 (€73) a barrel in New York for the first time since December as the debt crisis worsened.

And Saudi oil minister, Ali al-Naimi said prices should fall further as the country is optimistic it will discover more oil and gas in the Red Sea and increase recovery rates.

Maxol chief executive Tom Noonan said he expected the price that consumers pay for diesel and petrol at the pumps to continue to fall.


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