Reminder - gas prices cannot be hiked by suppliers because they don’t own the gas. Petroleum products are bought and sold on commodity markets before they’re ever refined or even removed from the ground. These “futures” are bought and sold and the price at the pump is related to the current price to purchase the product from the commodity brokers, plus transportation and local markup.

There are legitimate uses for futures contracts, but much of it is just gambling and capitalistic opportunism.