The supply of Oil is up.

But not near as much as the supply of dollars.

I see our OP has fallen for the statist BS hook, line, and sinker.

Any time I see the word ´´guzzle´´ (or a derivative of it) in conjunction with gasoline, I know the story writer is a product of modern journalism... They learn these buzz words and are not creative enough to write a story without using them.

OP: "oil producer said it cost $30 to produce a barrel of oilwhich he sells for $100 at the refinery."

Um, not exactly.

Yes, it costs $30 or so to produce a barrel.
Then you pay the royalty owner 1/4 ($25)
Then severance taxes 1/3 ($33)
Then transport $2-3

Total cost: $91
Today´s price: $93

The net to an oil operator is about $2/bbl.

#1 is correct. When you print paper dollars to buy hard commodities the price of the latter inevitably rises. But LoFos, or LIV´s don´t understand that.

So what´s new! Wages are less. Groceries are higher. Fuel prices are increasing. All engery is going up. Health care is going up. Supporting the president, his family, Biden, the White House employees, has gone up and is still increasing. Taxes are going up and up. Everything this Pres. said would not happen is happening and faster than we all realize.

As a data point for comparison, pump prices around San Mateo County and SF generally fell (for the first time in months) by about a dime a gallon in the past week. A gallon of regular can be had for under $4 at many stations now.

Is the world oil lake rising or lowering? The oil speculators want to know!

#7, and because it fell to under $4 we should be grateful ????

I remember when it was $2 a gallon (actually 10 cents a gallon)

Most of what is on that price is TAX !!!!!

If the oil producer is selling it for $ .93 a gallon, then the rest is our dear Government with their hands into your pocket !!!

#7 is not intended in any way to imply that prices just below $4 are acceptable. If anything, it was a weak effort to say to those suffering with $3.80 that you aren´t alone.

Mindful that folks in Hawaii usually pay a tidy sum higher than even Californians. We´re all being reamed, and by our government more than the producers.

We need more refineries.

The States where prices are highest are those, i understand, which impose a wide variety of CAFE standards.

And those are based on the whipped-up fakery known as Man-Made Global Warming.

The people who buy into the lies of the left are the cause. The fact is oil companies make a lower percentage of profits than most any other type of business. The solution is for Democrats to get out of the way and stop being the problem.

Another reason prices are so high is state taxes. For example, NY state adds an average of 67 cents per gallon via seven separate taxes. The federal tax is only 18.4 cents of that.

In the old days, the sign at the pump told you how much the gas cost and how much tax was added to the price. Now, the sheeple pay the whole thing and blame the oil companies!

The gas price is high
Some say producers gouge us
OP is a dunce