arket giant Tesco said it was cutting the cost of petrol by 3p a litre today as oil prices fell to their lowest
level for a year. The r
r is lowering unleaded and diesel by
3p across its 430 UK forecourts with immediate effect. It
follows a penny cut by rival Asda at the start of this week, and price drops made by a host of retailers last month. Light, sweet crude for November delivery on New York Mercantile Exchange - the worlds benchmark price
- tumbled as low as 82 US dollars a barrel in early trading today, the lowest pric
e since mid-October last year. Mounting fears of a global recession, which will weaken oil demand, hav
e seen the price fall in recent days. Nymex crude is now 44% ch王中王任务不刷新 eaper than the 147-dollar high hit in July. London November Brent futures also fell below 80 dollars a barrel.