Pump price determined mostly by big demand. Notice that China is now the biggest auto market? Think that might have something to do with demand?
I disagree.
1) They so-called 'news' in America has been reporting for months that U.S. gasoline consumption is dropping
2) China has approximately 5% of the automobiles that we have (U.S. has more autos than people) Strange that they would be creating a big demand especially now that the pipeline from Soviet Russia is opening up to supply just China, oil that we don't import anyway so why would the price spike?
No. Price is set totally by speculation in this case and/but if you want to take a closer look at the real reasons for the increase, it is because the Bildebergers said for it to happen.
If you are not familiar with this secretive group you need to read up on it. THAT will explain 'why' things happen the way they do. Throw to the wind the lies that the U.S. News agencies force feed you it is all baloney.