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Gas prices end long slide

China, Middle East likely behind increase in price.

By Daniel J. Graeber

WASHINGTON, Sept. 23 (UPI) -- Retail gasoline prices Tuesday in the United States ended a streak of 16 straight days of declines, data from motor club AAA show.

AAA lists a national average price of $3.34 for a gallon of regular unleaded, an increase of about 0.5 percent from Monday's average.

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Prices for Brent crude oil, the international benchmark, increased Tuesday following reports of improvements in Chinese manufacturing and U.S.-led airstrikes on Islamic State targets in Syria.

Military conflict in the Middle East could spark wider security concerns in the broader oil-rich region. Chinese manufacturing data, meanwhile, tempers some of the worries about the slowdown in the Chinese economy.

Meanwhile, the Organization of Petroleum Exporting Countries said it may cut back on production to make room for output coming from North America.

The U.S. Energy Department explains oil prices account for 65 percent of what consumers see at the gasoline pump.

Gasoline prices in the United States typically decline after the Labor Day holiday as refiners switch to a cheaper winter blend of gasoline and demand subsides after the summer vacation season. Some retail markets could see prices below $3 per gallon by the end of the year.

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