Big, prolonged oil price momentum swings upward cause gas prices to go up (of course), and keep going up until oil prices swing down a LOT and stay down.
This prolonged price swing, starting since (ahem) Nov 2020, and had been sustained all thru 2021 into 2022. Longest continuous upward trend (with no real sustained pullback) in decades.
Then Ukraine invasion was the sour icing on that stale cake, and jacked prices further. Finally peaking after inflation reached 40 year highs due to that huge sustained 1-1/2 year ramp up, with recession and other economic negatives making people cut-back on consuming.
Now we have the worse inflation in 40 years and recession that will take many months, if not years to mend. Interest rates will stay higher than most have been accustomed to for many, many years. The days of cheap loans are gone for who knows how long.
But, one silver lining. Interest on cash in savings/money market/CD accounts will finally start to actually be more than a few pennies or dollar a month. Still far from the inflation rate percentages, but something, especially in this down to stagnant stock market lately.
People with limited or fixed incomes are going to feel the brunt of it for longer than we've seen in decades.
https://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart
Click on the 10 year trend to see clearer picture of recent trends.