CNBC is reporting that while Oil prices are at their lowest point of the year, oil refiners have cut their production. This is turn is causing gasoline prices at the pump to be at their highest point of the year, and continue to rise. Gasoline supply inventories are below where they were at this time last year! Even though inventories of crude oil continue to rise way beyond average, refineries have been refusing to refine this oil into usable products. According to CNBC, this reduced supply of refined gasoline is the reason that prices continue to rise.
The Secretary of Energy should investigate the oil refiners. There is a new sheriff in town, and things should not continue the way they did under the old administration.
http://www.cnbc.com//id/29176966
Below is the link of the Department of Energy website where you can see the drop in output of refined gasoline compared to what was produced a year ago.
http://www.eia.doe.gov/...