That's an interesting question. I'm sure you'll get plenty of "pleasant" responses.
But while your idea has some merit, there's several problems. First... most economists estimate the price will have to exceed 5 or 6 dollars a gallon before it has a major impact on commuting and vehicle purchasing habits.
Instead, what will happen is economically challenged people will struggle to get to work because they can't buy gas, and don't have a bus near their home. Then they will struggle to put food on the table.
Oh, don't forget that shipping costs will increase, so everything at the store will also get more expensive. So people will be encouraged to eat less, wear less clothing, read less books, and listen to less music as well, since they won't be able to afford to buy as much when they go shopping. So I guess, the public will lose weight in general, too. But then again, there will be children with nothing to eat too.
But hey, the recession back in the 90's was fun, wasn't it?