Speaking as a LGS owner, I can't get 9mm regularly now. I get maybe one case every 3 months now if I am lucky. I have mostly stopped selling 9mm since I can't get 9mm to sell with the pistols I have in my store. I will say that whatever a LGS charges, people are allowed to decide not to purchase, so I really don't get the whole "gouging" argument. I can tell you I have never heard someone complain about the guy who purchased Apple stock low and made 1000% when he sold it as being a price gouger simply because he made a profit on that stock.
Conversely I have rarely heard people complain about the sales put on around Black Friday when Local Gun Stores try to win business by selling under cost on items. People screaming about gouging now are the first ones to take advantage of the great deals they get when there are surpluses of inventory and nobody is buying (heard of the Trump Slump?). Take the good with the bad in regards to market fluctuations.
One thing I have learned over the last 10 years in the firearm industry is that you buy when ammo is cheap and you stock up on necessities. Like Primers, commodity ammo like 9mm and 5.56 bulk. Then you have it when invariably (like during a presidential election cycle) the availability decreases. If you were wise and purchased when it was cheap, you can sell some if you thing you won't need it until its available again. I don't call that gouging, I think its wise investing.