Phillips 66 does not import their oil. Does OPEC control them also? If, not, can the company set it's own cost on the fuel to be sold to the consumers, or are they bound, in some way, to charge the same as every other oil company?Does OPEC control fuel prices of American petroleum inside America?
Since OPEC's members produce the majority of oil consumed, they are the principle force behind the price of oil since they control supply at the margins. Yes, there is a future's market and a lot of speculative money has piled into oil contracts but OPEC has the biggest influence on prices and that includes the price Phillips 66 pays or sells at.
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