Doesn't it take longer than a day for oil to become gas?

Oil jumped to $78 per barrel yesterday.  My wife paid $3.30 for gas this morning.  I'm pretty sure it takes more than 48 hours for Middle East oil to become Columbus, OH gas.  So what's going on?  In short, expectations matter.  Prices are expected to go up in the future, so prices jump today.  Is this greedy suppliers taking advantage?  No just rationality at work.