I must just be stupid.
Oil yesterday was $35.94 per barrel. According to my feeble records it's not been that low since I started keeping track. But when I went to get some gas yesterday it cost me $1.969 per gallon. That's what I paid when oil was $62.41 per barrel in early November, nearly double the price. Why isn't gas $1.25 by now? Why does the cost of oil get cut nearly in half and I pay the same for gas but when the price for oil doubles I pay more than double for gas? Must be that new math or something.