Why is there so much debate on this? Its simple inelastic demand. Gas stations can charge whatever the hell they want to because people are so dependant on their cars for transportation. People won't buy significantly less gas, and profits will increase.
The only way to really stop it is to make gas an elastic good... when gas gets too expensive, people start riding their bikes, taking public transportation, carpooling, etc. Since this isn't going to happen, then debate is futile.
