The WaPo has a graphic explaining the components of the cost of a gallon of gas. My interpreted explanation: Big Oil knew that peak oil was coming, and wisely built only enough refining capacity to handle the world's maximum ever daily oil production. We've been at or near that level for the past year or so. But last year's hurricanes knocked out a lot of refining capacity, and it's not all back online yet. So--higher crude prices, increased demand, lack of refining capacity=Higher gasoline prices. Deal with it.