Oil Prices drop 25%, Price at Pump Unchanged, Are we getting Ripped-off ?

Oil prices are down 25% to around $83 a barrel from a high of around $107 yet the price of fuel at the pump remains unchanged. We should be paying about £0.99 per litre to reflect market prices. I see no outrage let alone any discussion amongst tax federations, government, etc. about this rip-off. Is it just everyone's in the same bed together and don't give a rat's butt, or is it just a complete monopoly by oil companies and they can do whatever they please.