Yes and who always loses out - we do, because the oil companies just pass the burden on to the final users - us. What really rattles me is that our government (apart from bleeding the British public dry in petrol taxes) just sits by and allows the oil companies to do whatever they like (never mind the fact that it is close to crippling the country's whole infrastructure), whilst those same companies announce billions in profits - all funded by us.
I'd like to know how it is that the oil cartels (OPEC) can charge $200 per barrel and yet the prices for fuel vary tremendously all over the world, e.g. here we are paying £1:00+ per litre and in Saudi Arabia (part of OPEC) the average price is around 4 pence per litre? All that OPEC need to do to bring the price down, is to increase the rate of production which they obviously refusing to do.
So we now have the scenario where the oil companies are blatantly boasting about their profits, coupled with the recent strike at a Scottish refinery which brought massive flocks of (panic buying) sheep to forecourts all over the country.
No wonder their having a laugh and - at our expense.