Some people will be able to telecommute or carpool.  They might have to either move closer to work or change jobs.  You might start to see a lot more motorcycles on the road.

For people living way out in the boondocks, you may be right about someone having to live in the city during the week.  Maybe a studio apartment - a hotel would be too expensive.  Heck even a 2-bedroom apartment and a roommate would work.

In the end, these are all short-term coping mechanisms.

I got an email from someone at work this week pointing people at gasbuddy.com.  This is from the guy who drives the Navigator, and his commute is only 5 miles or so.  Yeah, be my guest - go and try and find your cheap gas.

I already live in the city during the week and return to my home on weekends.  I don't think I'm alone.  Fortunately, I can stay with family in the area where I work.  

I've noticed more motorcycles and scooters.  I used to ride a moped, then a small motorbike.  Even before cell phones, enough auto drivers didn't notice me that I sold the motorbike.