Some of the reason why Oil prices Drop Today because Osama bin Laden's death.
Oil prices slipped early Monday, as investors breathed a sigh of relief following news that U.S. forces had killed al-Qaeda leader Osama bin Laden.
Crude for June delivery fell $2.07, or nearly 2%, to $111.86 a barrel in early morning trading.
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Analysts said that between sky high gas prices and bin Laden’s death; traders could be poised to take their profits and start a sell-off. This could help drive prices even lower.
Still, that potential drop isn’t helping out drivers in South Florida. The price of regular unleaded gas stands at $3.84 in the state of Florida. Premium gas prices are over $4.15 a gallon in the latest numbers from AAA.
But, Florida’s prices are well below the national average of $3.95 a gallon for regular and $4.21 for premium.
The prices have raised more than a dollar since last year at this time. The all-time record AAA has measured was $4.11 per gallon for regular unleaded on July 17, 2008.
Oil Prices Drop Today After Osama bin Laden’s death.
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