One reason is because although the short-run price elasticity of demand for fuel is almost zero, the long-run is not. i.e. if fuel prices stay high for months,

One reason is because although the short-run price elasticity of demand for fuel is almost zero, the long-run is not. i.e. if fuel prices stay high for months, consumers keep filling up their cars, keep buying the same fuel-inefficient cars they always have, keep making the same number of trips If prices stay high for years, consumers start looking for other transport options, start buying more fuel-efficient (or electric) cars, etc. Also: when oil companies make outsize profits during normal times, you get people with pitchforks calling for heads which is bad PR; and you get certain stripes of politicians calling for price controls etc.