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I think were forgetting one important point here. Gasoline is a generic term for a mixture of hydrocarbon molecules with lengths from 6 to 11 carbons (I think; it may be 7 to 12 or 6 to 11, whatever). If you have a device - and I don't think a little magnet would do it - that can break the bonds, you would be creating chains of smaller lenghts, and it would not be gasoline anymore.
You wouldn't really spend $100 for a magnet would you?
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