Peak Is Near, Suggest Analysts Milota Sidorova

American oil price peak is near, suggest analysts. Although to estimated breaking point, they expect a jump of 10 to 15 cents, before it could be stabilized whether retreated.Monday's news pumped the prices from initial $119.93 down to $118.75 overnight. The decline followed currently settled dollar against most of the world's currencies. Americans now buy fuels for $3.603 per gallon, reported Oil Price Information Service. Comparing to the last year, actual price rates are almost 66 cents higher, but they are lowering rates down to 0.4 cent per day instead of 2 cents per day, like they did two weeks ago.The potential reasons why point to seasonal switch over from making winter to more expensive, yet less polluting summer gasoline. Some refineries still donate winter gasoline supplies, that they have to sell till next season. Oil producers have also declared, that rising curde prices but process cost have considerable impact on breaking oil prices.Prices are tighten with labor circumstances as well. According analysts, Monday's rise strictly reacted on circumstances in Nigeria and the North Sea. The refinery in central Scotland lost almost 140,000 barrels in 48 hours employees walkout. Potential close up should have a 'significant impact' on regional production. Nigeria tormented by continiously protests for higher salaries and military attacks on pipeline systems, now produce less than 75 percent of its officially daily yield of 2,5 million barrels per day.However, one of the final impacts has been expected from FED representatives. Intended lowering rate by another quarter percentage should weaken dollar and rise up the fuel prices. "A quarter point cut could suggest ... we're getting to a point where the dollar might bottom out," said Michael Lynch from Strategic Energy and Economic Research. He also added, he expected early cutting edge and final stop of increases.

related story: http://news.yahoo.com/s/ap/20080428/ap_on_bi_ge/oil_prices;_ylt=AtjTpAfqYmY9U.zXk8MMQPKs0NUE

by Milota Sidorova for PocketNews (http://pocketnews.tv)

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