We may have to consider doing that pretty soon. If that fails, just freeze the price....a solution I don't like, but we can't afford for the economy to go south.
It could go south anyway, depending on how often commerce is hampered by gasoline shortages resulting from price controls.
What I seem to recal from Econ 101 was that freezing prices will do nothing to alievate the problem, but actually exacerbate it. It would limit supply, and cause prices to rise even higher than they already are. It would cause the ecomony to tank, not save it from tanking.
Which brings another point: despite higher gas prices, is the economy tanking ? No- it's growing right along at a pretty good clip; and it will continue to do so as gas prices flucuate, with supply modulating demand and vise-versa; unless some politicans start fiddling with it.