Yup. Too many of the so-called 'economics' masters here on this thread have no understanding of an elastic/inelastic demand.
Or that the demand for gasoline is inelastic.
Which removes it from all the constraints of the so-called free market.
This is where the traders come in and tell you things like "Walk. Ride a bike. Don't drive. Yadayadayada."
As though, in a society structured on cheap energy, you now have the alternative of pretending it's not ... overnight.