Oil Price Surge in 2026 Forces Drivers to Rethink Their Next Vehicle Oil Price Surge in 2026 Forces Drivers to Rethink Their Next Vehicle In February 2026, renewed geopolitical tensions in the Strait of Hormuz triggered a fresh round of OPEC+ production cuts. Crude oil prices jumped above US$118 a barrel within days, the steepest weekly rise since the 2022 energy crisis. Analysts at the...