The problem is MUCH larger than the price at the pumps
The other posters are right about supply and demand and the capital markets. Capitalism is generally efficient (unless there are monopolies and such). The margin of profit on gasoline is slim and that's why stores sell junkfood to make money. Boycotting is pointless because everyone needs oil and gas. It's what economists call an inelastic good, like milk, sugar, water, etc. You use the same amount regardless of whether times are lean or fat. Use barely fluctuates.
The price at the pumps is where we all see price fluctuation and we gripe, but look at the big picture. The DEEP problem is that the worlds oil reserves are being exhausted at an alarming rate. Currently the US uses most of the worlds oil, but other larger nations (eg China and India) are starting to consume more as they industrialize and mobilize their populations and become consumers of modern goods.
Next to clean water, oil is the most precious resource that man has.
Humans have been mass consuming oil as fuel, lubricants, additives in pesticides, fertilizers, plastics, concrete, you name it and oil does it. It helps grow our crops, lubricate our engines and tools, fuels combustion engines, mobilizes militaries and civilizations. All that for a "mere" $20 per barrel (in 2000), $50 a barrel (in 2004), and $75 a barrel (2006). Oil is the BEST return on investment in human history. A gallon of gasoline costs $3 today and replaces hundreds of man hours of work. It is extremely cheap and extremely efficient. Don't believe me? How far can you drive your vehicle on a gallon of gas for $3? 20 miles, 30, 40 miles? How long would it take you to physically push a vehicle that distance? Days? Maybe a week of 8 hour days? Think about trucking food and goods across a nation, or using earth moving equipment to build buildings, sailing boats or flying planes or running trains for travel or transporting goods; daily commuting, growing crops for a nation of 300 million, manufacturing goods, etc.
Cheap Oil has afforded us the luxuries unimaginable by other nations at any time in history. For almost nothing, we can travel anywhere in the world at any time, we have plentiful and inexpensive food from around the world, inexpensive buildings, plastics that are lightweight and last forever, we can move mountains of earth and construct buildings hundreds of feet tall.
Without oil modern civilization comes to a grinding halt. Less food and new goods, no way to transport the food or goods, no travel beyond where you can ride a bike or horse, few lubricants for machines, etc. A recipe for disaster.
There is a theory which is accepted by most geologists, scientists, and the like. It's called Hubberts Peak, nicknamed Peak Oil. The theory is simple. There is a finite amount of oil. Humans have been consuming it with greater demand with each year for less than a century. Fortunately, technology has allowed us to access and process oil at greater rates of production to meet demand and keep price low. As demand has increased worldwide, supply has increased to meet demand. Unfortunately, Hubberts Peak states that demand will outpace supply at the beginning of the 21st century. Oil will become harder to find and more expensive to pump (it's deeper and harder to get and remove, located at the depths of the ocean, in shale, etc.) at the same time that demand will increase (US demands have increased and other nations like China and India are evolving to use more oil too). As a result, cheap oil will dry up and oil prices will skyrocket. Oil is currently $75 a barrel and gasoline is $3/gallon. Many geologists and financial analysts believe that $100/barrel is very close and that $200 is around the corner which would place gasoline in the $8 per gallon range. While oil will never truly disappear, it will become so expensive that only the elite and the governments will have access to it.
It becomes very scary to think of the real world ramifications of the depletion of cheap oil. Warfare over resources have (and will) occur. Superpower Nations that depend on oil (the US, Europe, Russia, China, India) will begin (or continue depending on your slant) waring over the remaining supply. If you pay attention to world events you'll see hints of this happening. And, while I support the Iraq war and do believe that the war was in our national interest, I have to admit that PART of that interest is securing a foothold on the 2nd largest oil producing nation of the world. And, why are we still allied with Saudi Arabia when most of the 9/11 bombers were Saudis? Oil.
So far the theory of Peak Oil seems to be occuring before our eyes. The cost of a barrel of oil has trippled in the last 5 years. Most agree that sometime between NOW and the next 10-20 years by conservative estimates oil will be unobtainable for most people. It will just be too expensive.
Unlike the Y2K scare, the scare of bird flu, SARS, meteors, a nuclear attack, a biological attack, a chemical attack, etc. Peak Oil is a scientifically provable fact and an unavoidable inevitability.
The problem is that no amount of other technology or power source will occur soon enough to replace the 1) cheap 2) efficient 3) safe 4) widely available 5) easiliy transported 6) easily converted to energy 7) multiple purpose 8) convenient to use OIL. For example, let's assume that solar power is the next replacement. Converting solar energy to usable energy is VERY expensive, inefficient, not easy to transport, and doesn't generate the power to run jumbo jets, semi trucks, earthmoving equipment, etc. Let's say that the cost to use solar energy to replace oil for the same performance is $20 for solar energy vs. $3 for oil. Until Oil exceeds $20 there is no financial incentive to use solar. Once oil does exceed $20 then it's too late to develop solar energy.
I would strongly encourage others to make themselves aware of this situation. Unlike the other doomsday scenarios, this one is scientifically certain to occur in the next couple of decades and humans have currently no cheap alternative replacement for oil.
For more information check out these websites.
http://www.lifeaftertheoilcrash.net/
www.peakoil.com
http://www.endofsuburbia.com/