The high price of oil is partly because our dollar value is becoming a peso.

Also the oil companies have an obligation to make a profit for its shareholders. The only way they can continue to do that is charge the rate they are charging or find more supply and lower the price.
They chose to charge more.

The price of oil will never go down.
The upside is that it forces us to look for alternative fuels faster. I see hydrogen cars becoming more and more popular in the next couple of years.