Gas going to $6.00 per gallon overnight, in the mere anticipation of shortages in supply seems to fit the bill.
It is not as though there were huge lines FIRST, and the retailers raised prices; instead, retailers raised prices and people thought "Oh, no! They're running out. Better fill up NOW."
Prayers for all!
That's not what I thought. I filled up before prices went up much.
Now that I have a full tank and the price to refill is higher than normal, I'll conserve more than normal.
If prices were still the same as they had been, as would be the case with price caps, why would I conserve?
Like I said earlier, the number of joyriders using gas for no real purpose will go down as prices go up. Keep prices down artificially and the supply will be exhausted by those who use scarce resources for non-essential purposes.