Comment: I don't think you know what you are talking about.

(See in situ)

I don't think you know what you are talking about.

I mean to a point you are correct.

But the reason why that is ...

is because of exactly what one person said below and you told that person they didn't know what they were talking about.

Refinery capacity dictates supply.

All those things have something in common that crude oil lacks.

It needs to be refined.

The multinationals prefer to refine in this country because there is reason to believe that this country is least likely to nationalize their operation. Additionally there is some proprietary technologies involved and this country tends to protect that stuff unlike countries like China.

There are a limited number of refineries for many, many reasons.

But the fact is that there are not enough to bend the supply curve steeper than the demand curve.

It is that simple.

Gasoline prices are set at the market. The market is a world market. Anybody from anywhere in the world can buy and sell gas futures. Your explanation seems to be retarded of that fact.

Carry on.