Let's see. Am I right about this? Is it this simple? The price of gas is tagged to the price of crude plus processing plus demand plus taxes, delivery, and some profit. The oil companies report year after year of record profit. The cost of the raw product (crude) keeps rising.
Let's say the companies make - pick a number - $.35 a gallon profit. Their costs go up. Do they raise their profits as a % or hold to a fixed number per gallon? It would seem they are raising their number as a % of their cost, even though they do nothing extra to justify that.
Why doesn't the guvmint stop this? Don't be silly. Lobbies.
The energy companies blather about cost of alternative fuel sources, etc. All the while: record profits. Aren't they SO civic minded?
I just hit my first $3.29 fillup. For my LAWNMOWER.