The situation I believe is currently hitting almost every country due to sanctions impose on Russia and hence causing supply shock.
here in my country due to the hike in price of fuel recently though we're one of the oil blessed nation, it has drastically increased the price of transportation and base on past experiences, whenever the price of fuel is increased in my country it usually affects the price of goods and commodities , so this price hike has even worsen the case here coupled with the current inflation ravaging the Economy. But all this for my view is coinsidently happening to help shift the world's dependency on fossil fuel and into Greener energy they have been advocating for years now.
The post of the OP was before the war and there were no sanctions that happened that time but now that there is, it worsens the situation making the price of the fuel triple'd or more. Do you live in a country where the oil supply are sufficient? that must be in India? because it's said that India is the second largest supplier of oil next to Russia, and after them would be Iraq/Iran but why would the price will hike there when your one of the suppliers?
Price should be in normal range only or can be lower but the effects of the sanction are not only limited to oil, that's why we also feel an increase in the price of the primary goods and others items.