"In Australia , the RX 201 , 935 dollars"

Pause. Then a different voice

"In South Africa , the landesmeer goes to 2080 rand"

Pause. Another voice

"Germany. The fixed compressor operated XYZ. 5010 deutschmarks"

Long pause. Last voice

"United States. The hand held nut runner. 425 dollars."

Pause. "Got to get a plane."

"Safe trip"

"See you next time".

You've just attended a price fixing session.courtesy of The  Voice of Flavandia.

You're welcome.

I'm not going to pretend to the degree of knowledge about the oil industry that I have about the one into which I just allowed you to evesdrop.(And others) . But my guess is that for it, price fixing  requires less interaction. A lot less. Merely reading the crawl at the bottom of the TV screen during any of the "business channels".When any one of the majors  changes a price it is exactly like

       In Australia, the  RX 201 , 935 dollars.

it's an opening bid to see how the rest of the industry responds. Either it follows, Usually. Or doesn't. In which case Major A adjusts that bid.

It has no relationship to supply and demand, or North Sea storms or the whims of the oily dictators or Lord knows the explanations quickly concocted by the oil analysts.

"Because Saddam Hussein hasn't been captured."

"Because Saddam Hussein has been captured."

"Because Benghazi fell."

"Because Benghazi didn't fall."

A moment's research I'm sure will demonstrate that whatever the presence or absence of any of these supposedly material factors not only has no major oil company ever gone bankrupt, none has ever had a serious loss.  

"How can that be," you ask, "in a competitive marketplace."

Indeed.

Sure the industry varies prices from time to time and in general I won't speculate why. But I'll make an exception this one time. It has something to do with the White House. And who's in it.

Not that it is anti black or anti democrat. It's just anti not getting its way. And when it doesn't get its way it doesn't issue a press release or have some Chairman bore the Chamber of Commerce. It handles that as it manages prices. By sending a signal.

What sort of signal has it been sending by the price increases over the last few months, do you think? 

What would happen to prices if Ken Salazar were to provide some of the goodies which the industry is demanding. That "regulatory over reach" in the Gulf. Those leases under the artic ocean. None of those would affect oil supply this summer. So how could a favorable ruling cause prices to drop you might ask. Or maybe you needn't bother asking.

Like every oligopoly since Savanarola displeased the merchants of Florence it's willing to be reasonably agreeable. Provided it gets its way.