Uh, I'm college educated, too, but I think you're missing a couple of points.
1) Supply and demand does account for some of it. 2)Greed and speculation (read "young hotshots sitting at commodities desks in investment banks vieing for career advancement on the basis of their trades") accounts for more. 3) You left out the weak dollar, with all its causes, which only exacerbates the effects of 1 and 2.
Don't leave out the green and NIMBY factors. Those, to me are the most exasperating. How many soccer families run big SUVs, but like to think that at their core they are environmentally responsible (worse yet, couldn't imagine being seen as anything else!), and so support cleaner fuel while opposing the building or expansion of refineries? My observation says, "A lot of them."
1) Refinery capacity -- few if any new refineries in this country in years, and severe obstacles to any plan to expand capacity in esisting facilities. 2) For years we've heard about loss of capacity attributed to shutdowns for conversion from summer to winter blends of gasoline. We now face the same issues on #1 and #2 as refineries adjust to the new ULSD which, quite apart from it's effect on road diesel, has effected the pricing of off-road diesel and home heating oil.
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Today's Featured Article - Tractor Implements and Their Use - by Curtis Von Fange. Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he reached his early sixties
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