“Consumers decides what the price will be by how much they are willing to pay.”
So...how much they are willing to pay. So I can go to my local gas station and negotiate a lower price for my gas? Sorry, but even when consumption is relatively steady, any change in world events seems to trigger a sharp rise in the prices even when those events are unlikely to affect supply or would have a negligible effect on supply.
Yes. If that were not true, the gas station would just jack the price up to 10 billion dollars per gallon. Why doesn't that work? Because consumers won't pay it. And why *do* you pay the $3 per gallon? Because that gallon of gas is worth more to you than $3.
Its how much of your income your willing to spend not per gallon.