Inflation here? gas/grocery prices just continue to climb

That would make sense if there was a lag time before prices rise but that wasn't the case. They immediately started climbing and in big jumps too. Some greedy crooked sheet goes on in the pricing of fuel.
Oh, it absolutely makes sense if the goal is profit. Raise prices quickly, lower them slowly.

Makes you money on the price increases, and keeps you from losing money on the price decreases.