This kind of statement is fairly common now since everybody who buys gasoline for his SUV is an expert economist. "Price is up 4X but demand isn't up 4X: must be some collusion going on here." A closer look at the supply/demand chart reveals that the price line is not a straight line. We have difficulty of comprehension when the equation is not linear, and we also lack the concept of velocity; the difficulty is a result of failure of education in the Gummint schools.
Correct. So stop legislatively interfering with the market by restricting domestic production and allow the supply to increase.