Yea but the TRUE price of gas in the US is well over $8 a gallon. We just don't pay it at the pump but instead out of our tax dollars.

How is that funny? An expected increase in production cost has to be balanced out in advanced to maintain production at same level. Gas prices drop too when oil prices goes down for the exact same reason. Instead of thinking what they paid to produce the gas you purchased you need to think of what they have to pay to replace the gas sold to you.
Thats a pure falsehood. Prices do not go down as quickly as they go up. And when the prices do come down it is always still more than starting prices before they went up.

You keep using this 'They have to replace the gas they just sold to you' line. So what you are saying is they have do double-dip in the profits? They are already making a profit off the gas I just purchased and you say they need to make MORE profit off me to replace the gas?
B.S. The profit they make on gas sold today is ALREADY a profit to them.