It is true that whenever the oil price hikes, it is causing a domino impact for almost everything. When cost of transport increases then everything is also gonna be required to increase. That's why those countries that don't have their own fuel production are the ones that suffers on this one, while those countries that produces it will merely feel the effect of the war.
In another way, governments should be the producers of some of these products , the distributor and retailer of these products in order to drag down the monopoly of the private hands.
On an open market, they are allowing everyone to participate on the economy but sadly, many becomes the oligarchs for each of the industries that have been controlled by the government. One way that they can help the people is through subsidies but it should be weighed properly as many countries that also implemented subsidies but didn't end well.