From what I have seen/learned, it’s not realy the oil companies not wanting to build new refineries or expand existing refineries. A large issue is the EPA, permiting a new refinery is a nightmare. There is a proposed new refinery in Arizona, this refinery has been in the works for over 10 years; the bottleneck here is permiting issues and the NOT IN MY BACKYARD metality.
Refiners not building new refineries or increasing production because they want to artificially inflate pricing is silly. If refiners increased production or built new refineries they would still be making the same money with a lower pump price. After all they would still be selling the same or increased amout of gas.
I work in the environmental permiting/stack testing field as a refinery expert. I work for some of the largest producers in the US.