That would be like saying that the automakers are setting the price of steel.  Keep in mind that the oil companies sell their product all over the world, not just in the US.  Demand for fuel is at an all-time high in places like Europe and China, where there tend to be higher percentages of diesel-powered vehicles (which explains the high prices for diesel fuel the truckers are contending with).

Also, vehicle fuel only accounts for about half of oil consumption worldwide.  Even if you could wave a magic wand and make every vehicle on the planet run on water, there would still be a demand for oil.  We use it to make asphalt, rubber, plastics, and a variety of other things that nobody ever thinks about.  I'm feeling the pinch, too, but the oil companies are in business to make money and besides, a lot of ordinary people have their pension and 401K money invested in those companies.  Just trying to keep a little perspective, that's all.

Regards,

Scott Perry