Prices
The market is being set largely out of fear right now. It has nothing to do with shipping costs or quality. If the fear goes down, so will the prices. As with any transaction, it isn't just the seller who has something to say on this.
In 1979 the inflation-adjusted price of oil was about $96 a barrel. Six years later, it was about $30. It hung at under $30 until about 2003.
There's no reason to believe that this spike is any more inherent to real costs than the last one was.