That's not the way economics works.
Petrol/diesel goes up a bit, then something else like oil sands become viable. Plus, people take economy a bit more seriously. Walk to papershop instead of driving. Recycle more plastics.
Fission power becomes economically much more attractive. You can still synthesise hydrocarbons (at a price) given an energy source. So aeroplanes survive, for the rich and the military.