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Brent crude oil price falls below $50 for first time since 2009

The price of Brent crude oil prices has fallen below $50 (£33) a barrel for the first time since May 2009.

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Alexander: Families must benefit from oil price fall

Families must benefit from the fall in oil prices in their heating bills and airline tickets, Danny Alexander has told ITV News.

Mr Alexander's comments come after oil prices tumbled to their lowest level in nearly six years.

Speaking to Business Editor Joel Hills, the Chief Secretary to the Treasury said: "The fall in oil price is a benefit to most of the UK economy provided that the benefits are passed on at the pumps, in the cost of holidays and in the cost of heating homes."

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