Sadly, a price per barrel increase or anything that adversely effects oil supply causes an
immediate price increase at the pumps here in the US. Even though the gas that they're selling from their underground tanks wasn't effected(it was bought, processed, and delivered before any increase in price), but if the price of oil begins to drop, it takes
months for us to see that savings at the pumps because the stuff in the ground cost more than the going price.
It's a pretty nice racket...
Several US Congressmen have, again, called for an investigation, but it's always been obvious that it's gouging. We should have seen an increase due to the Venezuelan shutdown, but the current price is quite a bit more than that situation can justify.
The industry is taking advantage of the Iraq situation by raising the price, despite the fact that the Middle Eastern supply has not been effected. When and if that supply is effected, it's a legitimate increase. Raising the price on pure speculation to protect against any possible future loss should be criminal. Reminds me of the guy who raised his price to $5 a gallon after the September 11th attacks.