What to do about the petrol price shock?

Austria has introduced a 12-cent-per-liter price cap on fuel. As a way to combat inflation this makes sense, but easing the burden of higher fuel costs should not be the goal here, says Der Standard:

“High inflation leads to hikes in wages, which in turn puts pressure on industry and thus on the country’s economic performance. … The second reason for the intervention is particularly ill-conceived: … After all, anyone who drives a combustion-engine car today – despite the fact that fully electric alternatives are available on both the new and second-hand markets – is aware of the risk of prices suddenly skyrocketing. Fuel prices already soared in 2022. Nevertheless, people continue to buy combustion-engine cars or are reluctant to switch to electric vehicles. That’s up to them. But the rest of the population should not have to subsidise this.”