now that the oil companies have increased gas prices by 40/50 cents a gallon, will they come down?

[ProfessorGAC]

13. They're Down 45 Cents Here

And oil companies didn't cause the spike!
Speculators, hoping the storm damage would greatly shrink supply while demand stayed flat drove up the price disproportionately to the facts.
One: one of the economic mistakes of the 80's was the law change that allowed refined goods to go to the commodities markets. It ruined the cost plus model, eliminated any need to compete on price, and created a useless layer of profit taking that added no value to either the supply or demand side
Two: at least we can take a little solace in the fact that many speculators got slaughtered when supply caught back up as fast as it did

Right now, gas here is only 10¢ above what it was pre-Harvey. That caused huge hits to people who bet on other people's misery using other people's money!