Begin by combining your dry ingredients in a large mixing bowl. Whisk together 1 1/4 cups all-purpose flour, 2 tablespoons sugar, 2 teaspoons baking powder, and 3/4 teaspoon salt until evenly distributed. In a separate bowl, whisk together 1 1/3 cups milk, 3 tablespoons vegetable oil, and 1 egg until the mixture is well combined and smooth.
Create a well in the center of your dry ingredients and pour in the wet mixture. Gently fold the ingredients together using a spatula or wooden spoon, stirring just until the dry ingredients are moistened.
It's imperative to stop mixing while the batter still has some small lumps—overmixing will activate the gluten in the flour and result in dense, tough pancakes rather than the light, fluffy texture you're aiming for.
Heat a griddle or non-stick skillet over medium-high heat and lightly grease it with butter or oil. Once the surface is hot, pour approximately 1/4 cup of batter onto the griddle for each pancake, spacing them a few inches apart.
Cook until the edges appear set and bubbles begin to form on the surface, approximately 2 to 3 minutes. Using a spatula, carefully flip each pancake and cook the other side until golden brown, about 1 to 2 minutes longer. Transfer the finished pancakes to a warm plate and repeat with the remaining batter.
Serve your pancakes immediately while they're still warm and at their fluffiest. Top with your favorite accompaniments such as maple syrup, fresh berries, whipped cream, or butter. For best results, eat the pancakes within a few minutes of cooking, as they will gradually lose their airy texture as they cool.