Everyone's first reaction to rising oil prices is that inflation is coming, and the central bank will raise interest rates.

This oil price shock isn't due to excessive demand but rather supply being blocked (like the Strait of Hormuz).
While central bank rate hikes can suppress demand, they can't increase oil supply. In fact, high oil prices are essentially a tax increase on households and businesses, which will drag down consumption and investment.

Historically, in 1973, 2008, and 2011, there were similar patterns: central banks focused on rising oil prices and raised rates, only to be quickly proven wrong by the economy and forced to reverse course.
So a more reasonable logic is: oil price increase → real income loss → demand weakens → growth slows → inflation eventually subsides.

Don't directly translate rising oil prices into more rate hikes; the main trend might be deteriorating growth, not the central bank becoming more hawkish.