[sammyg2]

With crude oil prices skyrocketing for no logical reason, refineries across the country are losing money bigtime. They are making and selling gasoline for less that it costs to make it. Even the most efficient refineries are breaknig even on gas. Diesel is still profitable but in most cases it doesn't cover the losses from gasoline.
The major oil companies (who pull the oil out of the ground) are making more than enough money off the crude to cover their refinery losses, but the independents who have to buy crude are in trouble.
If crude continues to climb or stays at these high levels, the independents will have to start shutting down refineries.
That would leave only the majors and a drastic cut in fuel supply. If I didn't know better I'd be putting on my tin foil hat and screaming conspiracy. Drive out the competition and then double the price.
We may be looking at $5.50 or $6 a gallon for gas by the end of the year if something doesn't give.
This irrational run-up in crude oil futures is really going to hurt this country. I'm thinking 1929 or worse. Seriously, this is the stuff that science fiction books are made of.