Been there, seen it before. Middle 70s, when gas went up to $1/gallon; 2010, when it hit $5/gallon. In those cases, gas prices eased, and almost everybody got back in their cars (and F150 pickup trucks).
With Covid, we all want to drive our own cars and close the streets so we can ride our bikes. Until the first cold, windy, rainy day, at least. When the traffic takes twice as long to get through as it did in January 2019, well, I expect putting a mask on to take a bus or the subway won't be so bad after all.