3. Supply and Demand

The price of crude is affected by these factors, yes. They are not the only factors. If demand was not so high, would Opec be able to sell their oil?

http://www.eia.doe.gov/pub/oil_gas/petro...ent/import.html

Canada and Mexico alone export almost almost as much as Opec. If Opec wants to price-fix (among their member nations), they can, but they do have competition. The US doesn't have to buy from them, but appetites are too great for the black juice.

The price of actual refined fuel (which is much more of a locally-produced value-added product than most people think) is definitely affected by supply and demand.