There is no global oil shortage. So why are gasoline prices high?

San Anselmo CA

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The reason is simple. Oil companies are losing tens of billions of dollars every month due to the reduction in trucking. Oil companies a have also seen a huge global slow down in shipping and air travel. The world is simply not needing/buying as much gasonline, jet fuel and diesel that they were a couple,e of years ago. So oil companies are sticking it to consumers. Chevron, Shell, Exxon, BP, Unocal are all trying to remain record high profits even during this covid induced consumption down turn. You and I are getting screwed so greedy oil executives can afford personal jets. Oil companies are punishing consumers (charging more) for using less oil.