I seem to remember the last time oil was $100/barrel,
the pump price was about $3.00.
Time for a "windfall profit tax".
= new reply since forum marked as read
because gas stations (and the refineries who are warehousing it on the way to the gas stations) sell the gas they have based on what they already paid for it.
When oil goes up, gasoline companies may (or may not) raise their prices some based on anticipating what it will cost them to replenish... but once they own the gasoline, they are loathe to lower the price until they get their profit on the stuff they own that they have already paid the earlier higher price for. Welcome to capitalism, heads you lose, tails we win! 
Consumers want to see the price of gas go back to a reasonable rate they can afford. Taxing oil companies
would just put money into the government coffers, not the pockets of consumers who are getting ripped off.
Love to see a Democratic Strategist come up with an idea using the emergency powers Presidents are
afforded to stop (or limit) big oil from exporting until the Ukraine/Russia war is over.
Lowering the pump price should help us immensely in the midterms. IMO 
posted here - https://www.democraticunderground.com/?com=view_post&forum=1002&pid=16824751
Yet the average price of gasoline at the time was $4.11/gal - https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m
Definitely a "what the market will bear" (although one would need to consider factoring in the reduction of refineries of late).
What I did find while researching, was that CA had a nice breakdown of costs to get the stuff to the pump - https://www.energy.ca.gov/data-reports/energy-almanac/transportation-energy/estimated-gasoline-price-breakdown-and-margins
This page details the estimated gross margins for both refiners and distributors. The term "margin" includes both costs and profits. The margin data is based on the statewide average retail and wholesale price of gasoline for a single day of the week. It is not a seven-day average. The margin provided here is an indicator for the California market as a whole and not for any particular refiner or retailer of gasoline.
The Energy Commission cannot estimate profit margins based on average retail prices and observed wholesale market prices. This is because detailed data on refining and distribution costs, costs paid by approximately 10,000 retail locations, hundreds of wholesale marketers, jobbers, and distributors is not available.
Refiner Margin
Refiner Margin (costs and profits) is calculated by subtracting the market price for crude oil from the wholesale price of gasoline. The result is a gross refining margin which includes the cost of operating the refinery as well as the profits for the refining company.
The price of crude oil is based on the daily market price for crude oil from the Alaska North Slope published in the Wall Street Journal©. The market price of crude oil also includes its own share of costs and profits. In the case of a vertically integrated oil company, the same company that owns and operates the oil field also owns and operates the refinery. Several vertically integrated oil companies operate in California including BP, Chevron, ExxonMobil, and Shell. For simplicity, the refining margins shown are based on producing one barrel of gasoline from one barrel of crude oil. No adjustments are made for other refined products.
In fact, they had a nice little table to show the breakdown (below was as of my original post date of 6/22/22 and the link is dynamic so the costs may change each week) -
June 13, 2022
Branded | Unbranded
Distribution Costs, Marketing Costs and Profits | $0.56 | $0.56
Crude Oil Costs | $3.00 | $3.00
Refinery Cost and Profit | $1.85 | $1.85
State Underground Storage Tank Fee | $0.02 | $0.02
State and Local Tax | $0.14 | $0.14
State Excise Tax | $0.511 | $0.511
Federal Excise Tax| $0.184 | $0.184
Retail Prices| $6.27 | $6.27