Gas Prices May Not be Falling at the Pump

7 years 6 months 2 weeks ago Monday, May 02 2011 May 2, 2011 Monday, May 02, 2011 6:01:00 PM CDT May 02, 2011 in News
By: Katherine Beul
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COLUMBIA - After Osama bin Laden's death, many people were left wondering how that might impact gas prices.

Experts say the notorious terrorist's death will have little effect on prices at the pump. Average prices for regular unleaded gasoline increased in Columbia Monday from $3.79 to $3.85 a gallon.

A spokesman for AAA out of Washington, D.C. told the automobile website, Inside Line, that bin Laden's death may cause prices to drop slightly at first, but with summer's driving season coming up, there probably won't be much of a drop.

University of Missouri student, Harrison Cunningham, said he is worried about prices at the pump this summer.

"I have to drive a lot more over the summer than I do during the school year because I work so far away, Cunningham said. "I hope it doesn't get much higher than this. Hopefully Osama's death doesn't cause a bunch of commotion in the Middle East, because if it does, prices will probably get a lot worse."

Analysts say several people might impact gas prices. Tom Kloza, with the Oil Price Information Service, told Inside Line if Muammar el-Qaddafi were killed, there would be a greater impact on crude oil prices. They would drop $5-$15 a barrel. But, if King Abdullah from Saudi Arabia passed away, it would most likely prompt prices to go up $5-$15 a barrel.

 

 

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