This is basic economics. Price ceilings create shortages:

“To economists, the price system is central to how market economies allocate resources. Sometimes prices need to rise to balance supply and demand, even if that outcome is politically unpopular. Talk of price gouging raises the specter of price controls, which in the 1970s led to widespread shortages and long lines at gas stations.”

http://gregmankiw.blogspot.com/2006/04/price-gouging.html?m=1