I feel like the kid in the story, “The Emperor’s New Clothes,” in revealing this: Oil companies are responsible for high gas prices.
Yes, there are the usual arguments like the tension with Iran, internal troubles in Yemen and risk-averse commodities futures traders. But before prices had risen even five cents, Karl Rove and other Republicans were on the airwaves blaming President Barack Obama for the terrible conditions he had wrought, and how high gas prices were expected to go.
Obama has increased domestic production of oil, and demand for gas is down in the United States. There is no supply-and-demand reason for the high prices.
When the profits of the major oil companies are revealed in April for this fiscal quarter, expect another record setter for most of the oil companies. They do not need to charge us this much.