on where you are, since the US has "allowable" grades and blends that are specific to regions..and each is going to rely on the capacity of the particular refineries.

In addition, it will take time for the reduction to work its way through the system.

Expecting the price at the pump to follow the price of oil precisely is simply showing that you don't completely understand how that gas gets to the pump in the first place.

What you are ignoring...the companies raised their prices immediately. That was the robbery. They were selling gas that had already been through the system and selling it at prices that reflected what the current cost would be. What do you get? Windfall.

And, in case you missed my first post, my price at the pump is down SIGNIFICANTLY from the Katrina spike (and hey, I only get full serve in NJ) . So maybe yours didn't, and that would mean you are likely being fed from the pipeline that comes from the effected refineries...and your buddies aren't cutting back on their guzzle at the pumps.