Why? To omit that comma joins the last two items into a single item when, in fact, we want series separation (after all, the word "and" is a conjunction).
Incorrect Example
I ate an apple, an orange and a watermelon.
[The final comma after "orange" is missing.]
Correct Example
I ate an apple, an orange, and a watermelon.
[The final comma in the series follows "orange."]
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