[mouserider]

The price at the pump has many factors above the usual supply and demand equations.

The supply of crude is indeed controlled by the cartel but that's just one variable in the equation that determines the price.

Much of the price is determined in the commodity markets of the world and often they are based on both actual and perceived factors, much like stocks in the stock market.

In a way, sometimes the gasoline companies are just beneficiaries of the commodity markets.