What is the difference between &&, || operators and “and, or”?

“&&” has higher precedence than “||” like in most other mainstream languages; but “or” and “and” in Ruby have the same precedence level.

Consider:

(func1 || func2 && func3) // interpreted as (func1 || (func2 && func3))

but

(func1 or func2 and func3) // interpreted as ((func1 or func2) and func3)