The cars are deliberately underfuelled for additional pace during the early part of the race. Allowing refuelling would eliminate this.
Apart from the fact that I do not accept your premise, I'm not sure how you would know that. The teams no longer announce fuel loads and the FIA keep results of the post-race weigh-ins confidential (so long as the car passes) so unless you have insider information from every team on the grid, I question how you would know how much fuel any given car started with or what strategy was used to arrive at that figure.
Also, Vettel turned a 1:19.573 in Q2 on hard tires with naught but vapours in the tank. He also set fast lap of the race on the final circuit at 1:22.362. Webber ran 120.235 on the hards in Q2 and his fastest lap of the race was 1:22.651. If either complained that their tires were going away that near the end, neither the telly nor the F1 press have made any remark to it, from which I conclude that Vettel finished the race with enough fuel remaining to slow him by three seconds per lap and Webber by two. They clearly were not under-fueled.
The comentators talk about it all the time. They can't all be wrong all the time. They apparently don't have enough fuel to run the whole race flat out on regular fighting mode. That would make the car too heavy to be competitive. They run on fuel saver mode when they can get away with it, and they end up having enough fuel to finish. The mode that saves fuel also reduces horsepower so you need to use a little give and take and strategy. They set great times at the end because they are so much lighter then. They could possibly be in non fuel save mode, or even if they are in fuel saving mode they could still be quick thanks to the weight loss.
refuelling is dangerous. When they brought it back, most people in the sport decried it. I sat on pins and needles during every pit stop. I've seen what can happen. I mean, we all have. Steve Matchett was the rear jackman in Jos' fireball and was pulled to safety by a Williams mechanic.
CART or Champcar has(or did have) more frequent fuel incidents, and the flames are invisible! there have been some awfull burns to guys there. It's really bad there.
What I would like to see is:
no refuelling,
no mandatory use of both compounds,
qualifying tires,
and race tires that grip like a sunuvabitch and won't last a third of the race, with the corresponding increase to the number of tires allowed.
That would make pitstops less predictable for spectators and put a stop to the dull end when everyone knows there will be no more pit stops.