In magento which price or price rule has the highest priority?

Magento takes the minimal value (lowest price) from the following calculated price variations

Reference as Marius says above, slide #9 from Ivan Chepurnyi (used to be part of the Magento Core Team so should know the correct answer!)

Magento also give the highest priority as follow

1) Catalog price rules

2) Special price

3) Tier Prices

4) Group prices

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