Of course when one of the two remaining companies takes a huge hit on their production capability, you expect prices for all drives to increase. Seeing most consumer drives double or triple in cost is a little ridiculous but I can't do anything about it other than refuse to buy drives and wait.
The big question will be, once production meets demand again, will prices fall back down to what they were before? Even if they do, that in my book means that they are still significantly higher than what prices would be had the flood never happened and prices had continued to drop as normal.
What really killed me is when WD and Seagate both announced that they were cutting warranties within 24 hours of each other. I've worked in the business world enough to know that it takes way more than 24 hours to make a huge change like reducing warranties. This means that one company wasn't reacting to the other. So either both companies were coincidentally planning on cutting their warranties and just happened to announce at the same time (not likely) or they are secretly working together instead of competing. When the only two companies left are clearly not competing in terms of warranties, than why would anyone delude themselves into thinking that they are competing on price?
I suspect that they will eventually be caught price fixing but it will be years from now and by that time the only victim will be the consumers.