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Greece, China and Puerto Rico Woes Will Help Lower Gas Prices

When the price of West Texas Intermediate crude oil shed 7.7 percent on Monday, falling to $52.53 per barrel, the general consensus in the financial markets and the media held that the primary cause was the crisis in Greece. It is no exaggeration to say that the country is on the brink of financial collapse. While government officials try desperately to negotiate a new bailout program with European creditors, there's no guarantee that a solution will emerge to correct the indebtedness.

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