If Exxon-Mobil were to cut the price of it's gasoline below its competitors cost, competitors could not match the price and remain in the business. No one would buy the more expensive gasoline until Exxon-Mobil's supplies were exhausted. Then the remaining companies would price their gasoline to the market.
If gasoline prices were fixed then there would be no pricing information and there would be no market. More likely there'd be shortages, gas lines and rationing.
Moreover Exxon-Mobil and the rest of the private sector owns less than 10 percent of the world petroleum resources. 90% is owned by governments. Take your complaints elsewhere and in the meantime consider owning shares of Exxon-Mobil and sharing in the profits.
OPEC (Saudis) controls the price of oil by opening and shutting the wells.
Period.
That is the problem here short term and long term, created by us the Brits many years ago.
And here I thought that reducing the price of a product would encourage more buyers to purchase that product, and take business from competitors. lol...
I guess Exxon don't need to worry about customers, regardless of price.