I really don't think "panic buying" by the regular consumer is what is anywhere near the problem with these higher gasoline prices. The problem is the enviro-whacko/no drilling here, there, and everywhere, world supply and world demand, AND the actions of the big oil companies over the decades to limit refinery capacity. They have been well aware of what they have been doing.
It just amazes me that few people talk about that aspect, they just talk about that $400,000,000 retirement package (which was absurd) and oil company profits (nine cents on a gallon vs. fifty cents federal tax.