The gas prices zoomed up because the oil companies knew that a good number of their refineries reside in the gulf region. They also knew that the category 5 winds would destroy or incompacitate many of them - limiting the supply of gasoline in the U.S. Therefore, they had to raise the prices to curb the demand. That way, there would still be gasoline to be bought for weeks and months after the hurricanes - no shortage.
The reason they went back down is because they were able to get many of their refineries back online and working - providing a steady flow of gasoline to the public.
It's called supply and demand. Why is it people still don't understand this concept? Anything else you'd like to know?
They had to raise the prices to curb demand....they HAD to raise prices so we wouldn't drive so much. Our business runs on 4 wheels, no matter how high the price of gas. For people who work, an increase in price only means they make less profit every day they go to work. And, let's not forget the hundreds of thousands of Americans who could not drive their cars (or the City of New Orleans bus fleet!) because of the hurricane.
I think the oil companies know that we will pay whatever....we are a society that runs on gas. We'll bitch and moan, then shuck it out at the pump. I know, they'll charge what the market will bear...but the patterns of profits and price hikes look rather opportunistic.
And on a totally personal note, I highly resent an oil company telling me I need to conserve my gas use by jacking the price up.