The price-gouging myth
Let me state this strongly enough : there is no such thing as price-gouging. It is anti-capitalist propaganda, given to us by people who should know better, and some who know better.
Let me put it this way. If the government was in charge of a high demand situation, they would RATION everything. Would anyone complain then if they didn't get what they wanted ? I'm pretty sure most of them wouldn't. And yet when the free market preserves the information about the value of the product, people rage against "price gougers".
What could "price gouging" possibly mean ? Price is a piece of information. It tells us what people agree upon on being the monetary value of a product or service in a given context. If the price is too high, then the seller won't be able to sell, and thus make maximal profit. If the price is too low, then there will be shortages and once again maximal profit will not be attained. So a rational seller has no interest in setting a non-rational price. "Price gouging" can therefore only mean the presence of an irrational seller.
As for the oil industry, you'd have to be an idiot to think that an industry within a market with high competition and low profit margins could possibly act irrationally and stay in business.
Please, if you don't understand basic economics, morality or politics, don't talk about it. You only make people like me mad.