Hi-Octane? - https://en.wikipedia.org/wiki/Hi-Octane
edit: somebody else got there while I was searching! And we can't both be wrong
Maybe, but the timeframe seems off. I know I played this game somewhere from 1989-1992. Hi-Octane wasn't until 1995.
Edit: I got the timeframe right but the multi-player wrong. Apparently the game I was thinking of was "Deathtrack" but I merged that with the later games that were multi-player.
What sticks in my brain was the fact that mines, caltrops, etc. would persist throughout the game unless somebody actually hit them. This meant that jumping out to first immediately wasn't always a good strategy as somebody behind you could drop a bunch of stuff in a pattern at a corner and a lap later the person in first would be the person to hit all the stuff.
The rocket-powered explosive skateboard was also amusing as if a couple people dropped them all at the same time you could effectively close down all but a small width of the track when they came flying around.
I wish I could remember what it was.