As far as I know, they weren't exactly price-gouging; oil was just in short supply; the global price was high. And anyhow, it wasn't that high, only $66 a barrel or whatever. Not as high as I thought it would go.
Let me see if I understand, oil was in short supply, demand is somewhat inelastic, so prices went up. But there not selling more, they are selling less, yet profits were record. No wonder I didn't major in economics.