Why refinery capacity, not corporate greed, is keeping gas prices high
By
Roger Pielke Jr. / June 30, 2026
Summary
This article argues that high gasoline prices are primarily caused by reduced global refinery capacity and supply chain constraints, not by corporate greed or "price gouging" from Big Oil. It examines the disconnect between crude oil prices (which have returned to prewar levels) and persistently high pump prices, attributing the gap to refinery closures and capacity reductions during the pandemic, geopolitical disruptions, and structural issues in the refining sector. The piece pushes back against political narratives blaming oil companies for price manipulation.
Source
bskyWhy refinery capacity, not corporate greed, is keeping gas prices highthedispatch.comKey quotes
· 3 pulledOil flows are lurching toward recovery in the Strait of Hormuz, and crude oil markets have softened from their historic rally.
Reduced global refinery capacity, not corporate greed, is keeping pump prices high.
You may not have even noticed this near-total return of crude prices to prewar levels if you filled up your family
You might also wanna read
Fuel on the fire: why oil companies are profiting as the world gets dangerously hot
Fuel on the fire: why oil companies are profiting as the world gets dangerously hot
Fuel on the fire: why oil companies are profiting as the world gets dangerously hot
Same Shock, Different Roads? A K‑Shaped Pattern at the Pump
Gas Stations Gain When Oil Prices Start to Drop
Africa’s largest refinery explains why falling oil prices don’t immediately translate to cheaper petrol after $4.5 billion crude spend
Oil and gas prices surge after Iran-Israel attacks on gasfields disrupt global energy supplies
Gas prices hit four-year highs and oil prices surged after Iran and Israel attacked gasfields, raising fears of prolonged energy supply disr
theguardian.com·3mo ago
Oil Prices Drop After Israel-Lebanon Ceasefire, Frustrating Recent Gas Purchasers
Oil prices dropped significantly on Friday following a ceasefire between Israel and Lebanon, causing frustration for Americans who had recen
The Onion·2mo ago
Comments
Sign in to join the conversation.
No comments yet. Be the first.