But once they're down there, they might not eat out as often. We're waiting to see. The automobile association said it would announce its summer travel projections in two weeks. The oil companies Groups representing consumers and independent gas-station owners say Big Oil is a major culprit. Oil companies reported record profits for last year, coinciding with the record prices at the pump.
Critics suggest that the industry manipulated supplies to force prices and profits higher.
The profit and price trends have continued this year. Last month, Exxon Mobil Corp. reported first-quarter earnings that were 44 percent higher than a year earlier. And Sunoco Inc., of Philadelphia, reported a 36 percent increase in first-quarter profits. Mark Cooper, research director for the Consumer Federation of America in Washington, contends that industry consolidation has allowed the oil companies to charge higher prices because fewer companies now serve any given region. They know that if they withhold supplies, there are no others who can come in.