Gas prices never reach the highest level in the spring

Crude oil prices fluctuated Monday, after the announcement of President Obama that U.S. Navy SEALs killed Chief of al-Qaeda Osama bin Laden. Prices initially fell, then increased, and falls again, landing at a minimum of four days: $113 a barrel on the New York Mercantile Exchange.

The U.S. Department of Energy reported late Monday that the price of gasoline at the pump on average $3.96 per gallon across the country, until a little more than 8 cents from a week ago. Prices hit $4 per gallon or more in 12 States and the District of Columbia. AAA and other observers said market they expect $4 to become the standard throughout the country later this week.

Oil expert Andrew Lipow, speaking with ABC News, said the price of crude oil fell by two dollars immediately after announcement of the President, and then, in mid-morning, had climbed 50 cents. He attributed the initial fall to concerns that al-Qaeda could stage reprisal.

Lipow, President of Lipow Associates in Houston oil, said he expects the effect of the death of Osama bin Laden to be essentially positive. "It is the good news that the threat of a terrorist action against production facilities, refining and transportation of petroleum in the world today seems to be reduced," he said. In the longer term, he thinks that it will be little step of relationship between bin Laden dead or that consumers pay at the pump.

Stock markets world rallies, although to the United States, the & S P 500 finished down 2.39 points, a drop of 0.18%. The disappearance of bin Laden, said Lipow, gives the world "one less thing to worry about." Markets are rallying and people say that they see better times come. With great optimism, however, comes increased demand for oil. World demand is at the level of the document. We see a huge growth in demand in China. After this, in India, Saudi Arabia and the Brazil. As demand for oil in the United States may be stagnant, the rest of the world must more. ?

Also putting upward pressure on prices, he said, is the fact that the Libya, ravaged by civil war, for the time being suspended oil production. The country exports its crude, mainly in Europe, not to the United States. But Libyan crude, made in petrol in Europe, is then exported to the U.S. eastern seaboard. Indirectly, said Lipow, "we receive 10 percent of our essence of Libya." Their oil will continue to be on the market for some time. "In the meantime, he said, many oil producers North Africa and Middle East regions remain in turmoil.

Lipow predicted gasoline peak at $4 per gallon over the next few weeks, and then work its way slowly to the low price. Except in the case of more unrest in the production of the nations, "end of the year could get off of 25 cents per gallon - but you really need turmoil of today to resolve."