Most likely all oils are that cheap, and they're just pricing them where they believe the market will bear. Now why they're choosing to price that oil there, I don't know.
The retail price of something and its cost to produce/ship don't have any actual relationship to each other, except that under normal circumstances, the price will be higher than the cost, in order to not lose money.
There's no reason to believe that the more expensive oils are necessarily more expensive to produce, or that the cheaper ones are less expensive. They're hitting a price point in order to foster market segmentation. In other words, Quaker State is cheap strictly because SOPUS chooses to position it as a value brand.
None of that is to say that they're the same thing, but just that there's no direct relationship between the price and the cost of anything sold at retail. That said, sometimes they ARE the same thing. For example, when I was a kid, I toured the Imperial Sugar mill in Sugarland, TX, and saw the packaging lines. Imperial, Kroger, and several other brands were ALL coming out of the same production line. Maybe there were slight differences in how they were sieved, but otherwise they were the exact same sugar. Yet they all had varying prices at the grocery store because that's where Imperial, Kroger, etc... chose to price their products, not because one was cheaper or lesser quality than any others.