Basically what is happening is the industry is trying to stop a run on wholesale gasoline by gas stations, ... The gas station owners don't want to under price the market and possibly run out of gasoline.
We've been hearing for several years now that the industry is operating on a razor's edge due to a small amount of refining capacity we have in the United States in relation to demand.
With each passing day, based on what we're hearing about the industry being restarted, this current environment will ease,
This in many ways is the worst-case scenario that the oil industry has been fearing.
It pretty much caused the whole industry to stampede into the use of ethanol.