Getting your player ready...
NEW YORK — Oil traders sent crude prices tumbling as low as $118 a barrel Tuesday on the growing belief that a U.S. economic slowdown and high energy costs are curbing consumer demand for gasoline and other petroleum products.
Crude oil finished the day just above $119 a barrel — its lowest settlement price since early May.
Crude’s decline is giving Americans more relief at the pump. A gallon of regular gasoline on average fell a half- cent overnight in Denver to $3.87, according to auto club AAA, the Oil Price Information Service and Wright Express.
