Read a 10Q for an oil company. The margins they make are akin to grocery store chains. The TAXES on the gallon of gas you buy is something like 5X the net on it (in US).<br />
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Additionally, gasoline is at the low end of it's historical price range, OTOH, the money you are using to purchase it is rapidly going down the tubes.<br />
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Gasoline priced in silver (for the US that would be in pre 1965 silver coinage) is about 17 cents a gallon. Unless gasoline rises above about 33 cents a gallon or falls below about 17 (silver value) for an extended period of time, there is nothing untoward in it's supply/demand structure (that holds for all but a disruption in silvers supply/demand structure, at which point you can chose another back up metric like gold etc...)<br />
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Until we're firmly rested on a stable monetary system (and that could remain fractional reserve as long as unsecured credit creation is reigned in) you can only mark the value of consumable materials compared to other consumable materials. Do you think the materials that go into a candy bar got any more scarce in the last 30 years? Bread? No... They got cheaper, and/or easier to produce. The companies producing them sure as heck aren't making 500% more profit than they were when a candy bar was $0.25 or a loaf of bread was $0.50. Same with gasoline.

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money grubbing republicans

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Greed. The whole supply and demand thing around oil is a fraud. All the major oil companies buy oil when the price is low and stockpile. While it is low, they refine the oil they are buying. When the prices go up, they refine the stockpiled oil and claim they need to raise prices because of the market price. When the price is high, our government buys to stockpile for Armageddon. When the prices drop again, the oil companies refill their stockpile. <br />
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Greed and lies, plain and simple.

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Refining capacity and governmental regulations.

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greed!

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