Q: My truck just revs and won't accelerate past 15 mph. I noticed a slow leak coming from the rear differential. Is this the problem?

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My car is making a squeeling sound but its not very high-pitched. I noticed a slow leak coming from the rear differential. Just tonight, I had to drive home, which is a mile from where I work and the vehicle would not accelerate properly. At first it would get close to 30 mph but near the end I could feel it just barely catch and it drove beteen 10-15 mph. The accelerator caused the RPMs to hit upwards of 5,000 and it never shifted. What could this be and how expensive of a repair am I looking at?

My car has 164000 miles.
My car has an automatic transmission.

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