You're thinking that the price is arbitrary, and set by the supplier.
And in many cases that is correct. It's the good old American tradition of hitting people when they are desperate and will pay anything, right up there with claim salting and medicine shows.
In all the analyzation about pricing supply and demand, I haven't seen a single comment about the nature of money and it's function in serving this purpose.
What is money? It's a liquid asset.
Why do we keep a liquid asset? For the uncertainty of what you may need or want to acquire in the future.
What happens when you don't have enough liquid assets? Adapt. Aside from fighting each other, that's what we do best. We can survive, if we make good decisions.
Having a reserve of liquid assets is one of those ways we PLAN for survival. But should the market be bent for your benefit if you failed to plan for surviving? No. That affects everyone else and their ability to utilize the market to solve their problems.
And money has a supply and a demand, as well.
In an emergency situation, the need to acquire or hold excess liquidity is suspended, and the VALUE OF MONEY takes a temporary tumble in relation to the need for scarce products and services to relieve the emergency situation.
Anti-price gouging laws is straight up price fixing, and it's immoral. It practically guarantees scarcity, because everyone knows that the money isn't actually worth much under the given conditions. Most people will treat $8/gallon gas with a lot more caution than $4/gallon gas.
Money doesn't fix problems. The market does.