Heat 2 tsp. oil in a large saucepan over medium-high heat. Add onion; cook, stirring often, until translucent, about 5 minutes. Add garlic; cook, stirring, for 30 seconds more. Add tomatoes, honey, salt, and pepper. If using dried basil, add it now. Bring to a simmer. Reduce heat to maintain a simmer and cook, uncovered, stirring occasionally, for 20 minutes. If using fresh basil, add it now.