Crude oil slips on demand concerns Crude oil dropped to $105 per barrel overnight in New York, as markets adjusted to news that China expected slower economic growth in 2012. A motorist pumps gas in Denver on April 15, 2011. Gas and food price increases will affect the nation's economic growth in the coming months. NEW YORK, March 6 (UPI) -- Crude oil dropped to $105 per barrel overnight in New York, as markets adjusted to news that China expected slower economic growth in 2012. Chinese Premier Wen Jiabao in a televised speech Monday said the government had lowered its target of 8 percent growth for the year to 7.5 percent, which would be the lowest rate for China in 22 years. April delivery light sweet crude prices on the New York Mercantile Exchange lost $1.68 to reach $105.04 per barrel. Home heating oil lost 3.09 cents to $3.1865 per gallon. Reformulated gasoline shed 3.46 cents to $3.2234 per gallon. Henry Hub natural gas prices added 1.5 cent to $2.37 per million British thermal units. The national average price of unleaded gasoline fell slightly from Monday's $3.767 per gallon to $3.764 per gallon, AAA said.