When oil spikes everything gets more expensive.

Fuel is the cost underneath every other cost. It moves food, medicine, and goods. When it spikes, inflation follows within weeks.
We’re already seeing it now-
Petrol is up 50 cents a litre in Australian cities since late February
Diesel shortages are hitting regional areas and farmers mid planting season
Jet fuel is tightening, airfares are next
Shipping costs are rising which flows into the price of everything imported.
The most hidden hit is interest rates.
If fuel driven inflation stays elevated, the rate cuts don’t happen. Every mortgage holder pays for that.
Goldman Sachs just raised US recession odds to 25%
We might not feel a war but we do feel $3.20 at the gas station and food bills that keep rising.