Oxford boss Chris Wilder was desperately disappointed to let two vital points slip after 10-man Torquay snatched a dramatic last-minute equaliser.
The U's remain in seventh place in League Two, just ahead of Crewe on goal difference, but looked on course for victory after goals from Adam Chapman and Cristian Montana cancelled out Rene Howe's opener.
Ian Morris was sent off 10 minutes from time for a second yellow card before Gulls sub Taiwo Atieno popped up in the 90th minute to fire past the injured Ryan Clarke.
Wilder said: "I'm disappointed because we murdered a good side in the second half.
"We took them to the cleaners and for us to pick up just one point from two games over the Easter period against Northampton and Torquay that we've largely dominated is criminal really.
"We went behind from an individual mistake that the boy (Harry) Worley is disappointed in, and it was a bad second goal right at the end. It's something the goalkeeper would deal with 99 times out of 100. He should have just tipped it over the bar but it ends up in the back of the net."
Gulls boss Martin Ling admitted his relief at the final-whistle but insisted his side deserved something from the game.
"We're relieved to come away with a point," Ling admitted. "But I thought we deserved it and deserved something from the game.
"It was a bit unfortunate for them with their keeper nursing an injury but it was a freakish first goal they scored (direct from a corner)." Ling said.
"Our keeper (Robert Olejnik) said it was his mistake, but if that's the case, that's the first mistake he's made this season."