Crude prices fell yesterday on stronger US dollar and investors' concerns that slow global economic growth would curb oil demand.

Light, sweet crude for September delivery fell 99 US cents to US$115.01 on the New York Mercantile Exchange.

The US Labor Department reported that consumer prices shot up by 0.8 percent in July, double the increase that economists had expected. The biggest price pressures came in the energy and food sectors.

Investors believed that American consumers would cut back their oil consumption despite crude prices was down about 20 percent from the peak.

Also pressuring oil prices yesterday was the US dollar's strengthening against the euro.

Oil prices rebounded sharply Wednesday after US government data showed crude stocks in the world's top energy consumer dropped unexpectedly.