You said "The price of gasoline at the pump lags the wellhead price of crude by around one month." Why then does the price at the pump rise within hours at the mere possibility of a hurricane or other event?

What was the cost of a gallon of gasoline the last time a barrel of oil was at today's price and why is a gallon of gasoline so much more today than it was then?

With oil companies like Exxon reporting record profits, why is the US Government still giving them subsidies and tax breaks?