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Smokers have puffed their way through multiple hikes in the price of a pack of cigarettes over the past two years. What is happening at the gas pump may soon force them to cut back.
The volume of cigarettes sold in the U.S. over the four weeks through March 26 fell 9.4% from the same period last year, data from Nielsen shows. This is a deterioration from February’s already weak volumes, which slipped 7.9% year-over-year.