AT LAST a glimmer of light in the gloom of recession.

The price of petrol dropped as low as 97.9p yesterday as leading fuel retailers started to pass on the falling oil prices to consumers.

It often seems to us that when the price of oil goes up the changes are reflected almost immediately on the forecourts but that when the reverse is the case it takes a bit longer for the changes to work through.

So we welcome wholeheartedly the move started by Morrison's supermarket to slash the price of petrol.

It is the first bit of good economic news we have had in quite some time.

And given that the forecast is for more cuts in coming months things could be looking up..

Now we need the energy suppliers to pass on savings to hard-pressed consumers.