been asked out but like someone else

hi, it's in the title really... A guy I just met wants to take me out but I feel like it might be pointless as I have started to develop feelings for someone else who I've known for years and don't think I will really be able to give this other guy a chance. should I give the guy I've just met a chance and meet up with him or politely decline as I would hate to lead him on and really don't think I can look past the way I feel about someone else? PS I'm not ready just yet to tell the person I like that I like them...

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