Sure, oil company profits plunged during COVID for obvious reasons. Now they are up. It happens, it's a cycle. But the reason gas prices are higher than "normal" relative to the price of oil is related to refinery capacity.
Gas should be priced around $4.30 based on the price of oil, roughly, in the US. It's close to $5 because we can't refine enough to meet demand. Demand SHOULD start to slack off and prices will trend down.