Oh please.
Motor oil is a fairly elastic good- if customers don't perceive enough value at that price, they'll switch to something else where they do.
Just because ExxonMobil is making record profits, doesn't mean that they should automatically start charging less for their oil.
Pricing doesn't have anything much to do with the actual cost of the product, beyond meeting a certain profit margin. I'd bet in Mobil1's case, they could probably sell it around $2 a quart and make a tidy profit.
The problem with that would be that it would lose a lot of it's cachet as *the* best mass-market synthetic oil. As in, if it was $2, we'd still buy it, but Joe Six-pack would look at it and wonder why it was so cheap, if it's supposedly so good, and probably end up with Valvoline because it's priced more in line with where his perceptions of super-premium synthetic oil should be priced. It's kind of a big game of follow-the-leader, within a category, except that it's based on consumer perceptions and not on actual product cost.
Group III vs. PAO comes into this at the point where the oil companies are charging $5 per quart for it, and they realize that they can make a similar or even better product with Group III when compared the all-PAO product, except at a 20% less cost. That 20% goes into their pocket.
This is business.... the entire point of oil companies(or any company) is to make money by charging what the market will bear for their products, and by producing those products for less than what the market will bear. Vilifying those companies for actually making money is kind of ignorant of how the system works.