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OPEC essentially determines the gas prices. They set the amount of production for all of the countries. They are basically all middle eastern countries. They cut oil production about 6 weeks ago and that is why the gas prices went up. OPEC is an evil thing. It is a monopoly on oil, just like DeBeers is on diamonds.
The US does not allow monopolies to sell in the US, that is why there are diamond importers that go overseas to buy diamonds. Monopolies are in total control of the market, but are suceptable to upstart companies. The problem is that the supply of raw materials (crude oil) is limited, so the possibility of an upstart company is very small. We really are at the mercy of the middle east.
This has been your economics lesson for the day. We now return you to your regularily scheduled program...
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