The attached image shows the relation between displacement wave and pressure wave.
We have derived the change in volume as:
$$\Delta V = (S)(\Delta y)$$
And used the relation with the Bulk Modulus to find the change in pressure.
But since the whole volume element has shifted to right by $y$ (the displacement), how are we measuring the change in pressure at the point $x$ anymore, aren't we measuring the change in pressure at the point $x + y$?