I believe 2010-2014 averaged about $80 dollars a barrel. I remember hearing political rhetoric and bearish stock market prognostications at around $120+ much longer ago than that. Government can easily make oil a scapegoat for future inflation. But, you and I know that we printed buku money already.
Price shocks are another ballgame. High expectations at the end of this year is $65 but not guaranteed. It could still collapse to $30-40. Fracking/Oil sands/horizontal drilling was a game changer.
Health Care costs are a bigger problem.