Isn't it based on the price when the gas was purchased by the supplier, not today's price? I have no idea how long gas sits in the tank before it gets put into a gas station.

Or it could just be that they're trying to desensitize us. It seems that prices will skyrocket, there will be outcry, politicians will "do something" and prices will drop. Then, a month or three later prices creep up again until they're at or above what they were during the outcry. Have you noticed this as well?