A $45,000 Porsche Taycan Is a Decent Oil Price Hedge

Western carmakers have been paring back their electric-vehicle ambitions in response to weaker regulation and demand, leaving buyers wondering whether their next vehicle would come with a plug after all. Now these assumptions have been jolted by another unexpected shift: the surge in gasoline prices triggered by war in the Middle East.

Previous energy shocks have left their mark on the car industry, affecting both the volume and type of vehicles sold, as well as how much consumers can pay.