Your tip's too small, or the valve isn't open enough. The pressure drop across one of those is too high. There's a tip with diff. orifice size for each range of cutting thickness.
I realize the tip was too small for what I was doing, and I should have gotten a bigger torch/tip (I don't always do exactly what I ought to) but if 14psi is the critical pressure, it should blow up before it ever gets to the red zone on the gauge.