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SINGAPORE – Oil prices fell to nearby $108 a containerful weekday in aggregation on anxiety rising render costs could counteract U.S. scheme growth and obligation for crude.

Benchmark vulgar for May conveying was downbound 51 cents at $108.32 a containerful at midday Singapore time in electronic trading on the New royalty Mercantile Exchange. The contract gained 49 cents to resolve at $108.83 on Wednesday.

In London, Brent vulgar for May conveying was downbound 54 cents to $121.39 a containerful on the ICE Futures exchange.

Crude has traded nearby $108 this week as traders mull the effect of Libya's civil conflict, a weakening U.S. dollar and China's ordinal welfare evaluate hike since October. Investors are also afraid a 29 proportionality jump in oil prices since mid-February module force consumers to pay more on render costs and module yet counteract vulgar demand.

Regular unleaded fuel in the U.S. currently averages $3.69 a gallon, up 23 proportionality from a year earlier.

"The main vexation is that with more of the consumer's budget feat toward pedal at the pump, it module stop backwards the nascent recovery," said suffragist Michael Sabino, a professor at St. John's University's playing school. "It module put a crimp into outlay plans for corporate America, as the costs of energy, transportation, and so forward uprise accordingly."

In other Nymex trading in May contracts, vaporisation oil fell 1.2 cents to $3.18 a congius and fuel dropped 1.4 cents to $3.18 a gallon. Natural pedal futures were downbound 1.5 cents at $4.13 per 1,000 cubic feet.

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