Petrol price action

[Gaius Julius Caesar]

Now Byron you said that oil companies work maximally to produce fuels, but I don't honestly see how that can ever be possible; with the unbelievable profits they make, surely they can increase production by building new refineries to whatever level they choose to- but necessarily increased production affects price, which would be self-destructive, no? It's just as is suggested about the diamond industry- the suppliers buy everything they can and keep the supply low to keep the price high. Oil companies may not be actively restricting production except simply by not increasing it. What I figure is that to combat this clear conflict of interests, refining should be separate- federally-owned and run so that it can be increased as demand requires. Of course that'll never happen LOL

But this is really truly out of control- gasoline hit $1.46/L here yesterday and that's beyond disgusting, it's criminal.

Sorry Matt, but I disagree with concept that oil companies deliberately
restrict the production. An installation I am on is always being pushed for max production rates, despite the actual operating problems this causes...
I won't go too deeply into it, but trust me, reducing the amount we produce every day is an anathema to the oil companies and partners.
BTW it is the largest supplier of gas directly to the national grid as well.