Osama Bin Laden’s Death Unlikely To Force Gas Prices Lower
The Ohio Petroleum Council’s Terry Fleming says the pain Ohioans feel at the pump these days is likely to continue, despite the death of terrorist Osama Bin Laden at the hands of US Special forces.
"I don’t think long term it’s going to have an impact on oil prices because we are still in the situation we were yesterday," Fleming says. "Libya is not producing oil because of the civil war. You have problems in Yemen. All of the problems that were in the middle East yesterday are still there today. Unfortunately. It might have a short term effect because of the euphoria but long term, I doubt it.
Fleming says gas prices would likely go down if the US dollar becomes stronger. But he says supply and demand is still the key. Fleming says the lower the demand, the lower the price at the pump.