It has nothing to do with supply and demand. It's all about exploiting fears about Iran, terrorism, what might happen down the road.
I agree the oil companies are gouging us and said so last week. I disagree with O'Reilly's assertion though that he has been pointing it out for a year. However, he is correct in saying oil and gasoline stockpiles are the highest they have been in years.
Is it a coincidence that just as prices started to stabilize and drop some last week the Bush govt. "leaks" that it is considering a military strike against Iran? Suddenly prices go through the roof again.
O'Reilly has a poll where you can indicate if you agree the oil companies are gouging us.
As for the rest of us we get to bend over and take it.