The traders on Wall Street are who are controlling the prices. Then the Public Utilities Commission in each state sets the final price( minus tourists tax & local tax per county). Then ofcourse the gas station sets their profit on top of that. Not the oil companies.
Check out Hawaii. They put a cap on their gas prices. So they can only go to a certain dollar amount. They in essence told Tesoro & Chevron (their 2 refiners there) to f*** off. They capped it at $2.15(pre tax) & told them to deal with it.
I laughed my butt off at that.
Why we cant do that here in the lower 48 is beyond me.
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