After the news of Osama bin Laden's death broke late Sunday night, some pundits predicted that the price of oil might fall. But Edmund's Inside Line is saying not so fast. Because Bin Laden was the head of a terrorist organization and not an oil-rich country, it's unlikely that his death will mean much for oil prices.
As Edmund's puts it, if Bin Laden were a hated dictator of a country that produces a lot of oil, prices might drop. And if he were an American ally who ran an oil-rich country, uncertainty would drive the price up. But since he was neither, the price of gas at the pump will likely be unaffected.
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Tags: gas prices, Osama Bin Laden
