Price Gouging: Are Producers, Refiners, Retailers to Blame for Higher Prices?

The head of a progressive organization said oil companies haven’t improved efficiency or lowered costs, but government reports suggest otherwise.

Price Gouging: Are Producers, Refiners, Retailers to Blame for Higher Prices?

The EIA also forecast on July 18 that oil output in, the Permian Basin, the largest producing basin, will reach a record in August and the highest since March 2020. (Source:

Higher prices at the pump are the result of price-gouging by oil and gas companies, refiners and gasoline retailers, a university professor and the leader of a progressive research organization said during a press conference on July 19.

However, those claims seemed to shift under scrutiny.

Among other allegations, Lindsay Owens, executive director of the progressive Groundwork Collaborative, said that oil and gas companies have raised prices despite a lack of innovation or “pulling oil out of the ground more cheaply.”

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Darren Barbee

Darren Barbee is senior editor for Oil and Gas Investor magazine.