In economic-speak, this is known as price gouging. I submit, however, that analysed purely from a praxeological economic perspective, price gouging is not unethical. In a free-market economy, price gouging becomes a necessary adjustment because it helps to clear the market price. Increased demand leads to increased production, which leads to increased job creation, which in turn boosts the economy. Due to the high prices, consumers are more careful in the manner in which they use it.

Source: The Star March 21, 2020 00:56 UTC