Mubarak Retreat, Oil Price Down

Mubarak Retreat, Oil Price Down - Following the decline in Egyptian President Hosni Mubarak as world oil prices fall to lowest point after earlier reaching the highest rate due to the outbreak of violence in the country's Thousand Tower.

Crude oil prices on the New York Mercantile Exchange in afternoon trading (local time) as quoted from page ABC News, Friday, February 11, 2011, down U.S. $ 1.21 to U.S. $ 85.52 for distribution in March. On the New York Mercantile Exchange for the distribution of March, oil fell two cents to U.S. $ 2.6950 per gallon and gasoline fell a penny to U.S. $ 2.4610 per gallon.

On the London stock exchange, the price of crude oil fell 31 cents to U.S. $ 101.13 on the ICE Futures Exchange trade exchange. Meanwhile, natural gas, down six cents to U.S. $ 3.930 per 1,000 kubiknya.

Previously, due to the political crisis in Egypt, the price of gasoline in the United States reached the highest price in a year. This never happened three years ago when oil prices reached U.S. $ 4 per gallon, making the citizens to replace his car into a more efficient gasoline cars.

The increase in oil prices that occurred this year due to several things, like rising demand for oil by China, a severe winter, and tensions in Egypt.