I rather like this instead (care to hazard a guess as to who said it?):
"The natural price, or the price of free competition ... is the lowest which can be taken, not upon every occasion indeed, but for any considerable time together...[It] is the lowest which the sellers can commonly afford to take, and at the same time continue their business."
The Wealth of Nations, Book I, Chapter VII
"The monopolists, by keeping the market constantly understocked, by never fully supplying the effectual demand, sell their commo-dities much above the natural price."
The Wealth of Nations, Book I, Chapter VII
... and not building enough refinery capacity to meet demand fits the description in quote two very, very, VERY well.