Crude drops well below $100

NEW YORK (AP) -- Oil prices continue their steep slide. Benchmark crude has dipped below $93 a barrel as traders bet that a global slowdown will put a dent in energy consumption.

Light, sweet crude for October delivery fell $3.05 to $92.66 a barrel on the New York Mercantile Exchange.

Crude yesterday settled below $100 a barrel for the first time in six months.

Gasoline prices have risen in recent days because of disruptions caused by Hurricane Ike. Auto club AAA says the national average for regular unleaded is $3.85 a gallon. That's up one cent overnight.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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