Cost or supply of raw materials is not what sets price. Supply and demand at any given moment is what sets price. When there's a big spike in demand, industry can't just instantly increase production to match it. So you can either allow the price mechanism to work and have supply available (quite possibly at prices you don't care to pay), or you can have empty shelves where supplies are entirely gone for a while.
Sometimes it works the other way too. E.g: There's been a big down-turn in demand for crude oil due to this mess. People are driving less, airplanes are flying less, etc, etc. Crude oil is currently selling for well under the marginal cost of production. Is that a good thing? Depends on your perspective. Fuel prices are certainly coming down, but if this situation continues for too long, some producers will go out of business, and when demand picks up again, they won't be there to pick up the slack, meaning prices may revert to higher levels than before the downturn in demand.
Now on the lighter side: