Oil Price

THE average price of gasoline in the United States set a record last week

Ms. Cantwell and others planted themselves at the Capitol Hill Exxon just one year ago, for much the same purpose, and countless other lawmakers have staged similar events over the years whenever gasoline prices have climbed sharply. But if the oil industry is so powerful, why did it let gasoline prices fall through the floor throughout the 1980s and part of the 1990s?

For that matter, why did it let gasoline prices fall sharply after they spiked in 2005 and 2006?

New York Times