The price of oil dropped below $90.00 per barrel Wednesday, for the first time in nearly seven months as US supplies continue to grow.  

Benchmark US crude fell 2.5 per cent to $89.60 US per barrel.

Director of the Precourt Energy Efficiency Center at Stanford University, Dr. James Sweeney, tells 660News he’s not surprised by the tumble.

“I think oil prices will fluctuate and they will continue to fluctuate up and down.  I view this as a temporary down, there’s going to be more ups.  But I think this is a reflection of expectations about what the economy may be doing given the European problems,” he adds.

Sweeney says he doesn’t expect the drop to significantly effect prices at the pump.  

The government said U.S. oil supplies grew last week by 900,000 barrels and hit the highest level since 1990.

Analysts expected supplies to grow by 750,000 barrels.
    
The price of oil and other commodities tend to fall as more supplies become available.