"Exactly. I worked for Chevron USA for almost 7 years and I can tell you without a doubt that these thieving SOB's raised the price overnight based on this news, even though millions of gallons of gas are in the system pipeline and storage reserves that didn't cost them anywhere near this price at all." Well somebody was buying oil and oil futures today, which also are jacked up. Chevron and other refiners have to maintain continuity of supply, so if not today, soon they are going to have to buy some oil/futures at these high prices. If the price of oil goes down by the time the oil today is refined into gasoline, you you can bet your @$$ folks would go bat$h1t crazy if in the future gas prices were to increase suddenly in the absence of any current event because the oil it was made from months ago was purchased during a time of high oil prices. NOBODY would believe that. Now is the only time they can be certain of selling gas at a price that reflects what they are currently paying for oil. It would be ridiculous to try and price different lots of gasoline by the cost of the oil it was made from. Competition between the different producers is supposed to keep prices from getting out of hand on the high side. If that is lacking, then it is a different ball game. And that might the current case in the SE, since some producers have downed refineries. Not saying that there isn't a bunch of greedy bastids in the mix, etc. But they are everywhere, and I don't really think the oil companies are any worse than other companies in that regard.