The more I think about it, the more I agree price controls would hurt.
Because by decreasing supply, you cause more of a crunch, which although not explicitly clear on the curve, will lead to price gouging etc.
If it doesn't cause price gouging, it will be much less of an incentive for businesses to get the gas to the stations as soon as they can, hurting consumers more than the high prices.
one idea, which freepers scoff at, would be for Bush to use the bully pulpit to encourage conservation. not that this is a long term solution mind you, but its about all that is available short term. ask american companies to allow workers who can telecommute, to do so at least one day per week. if we could take a 20% reduction in gasoline usage by eliminating one commute per week for a large number of workers, we could make a noticeable drop in gasoline usage very quickly.