Never happen.  People would switch to electric cars and bikes seemingly overnight  

back in the 1990's when oil traded around $20/barrel for many years, I talked about $100 oil and everyone said that they would walk if oil got to $100, while we went to $148 and they still drove and then when we backed off and hovered around $100 for many years again, SUV's and Large Pickup trucks were the fastest growing segment of the industry. It WILL happen and people can not walk 30 miles each day to replace there cars and do not get me started on electric cars. It may not stay at $245  very long, but 300 million people will not switch to electric in 30 days or less. 

I will tell you what many people do in countries with very expensive pump fuel

Most cars run diesel engines. These engines are as powerful as our gasoline engines and give amazing fuel economy Other people ride motor cycles. There are so many motor cycles that parking one is a major problem in down town cities. The cycles are equipped for all weather as they have plastic side protectors for the cyclist. I don't think these motor cycles would work in snow but rain is no problem. I saw one gentleman park, take off his boots and outer rain coat, store in the back compartment, he was already wearing city shoes under the boots and put on an ordinary over coat. He was then dressed in suit, tie, shoes and over coat with a minimum of fuss and could be a lawyer for all I know.

In china mini scooters are very popular and numerous. They out number cars by 1000-1 at least. They put the child up in a basket mounted on the handle bars, the man drives and the woman rides behind, most of the women ride side ways with their feet just inches from the road. They don't have a vey high speed, a very small engine and I would think very efficient mileage. They can carry groceries or what ever on hose tiny cycles , either tied on or side saddles, which sort of forms a better seat for the woman on the more expensive models, which is quit amazing

So people can adapt if they have to, but in america it would not be easy to leave the car home and use a motor cycle or a mini cycle but if fuel gets expensive enough, then it is amazing what people will do

I saw small cycles pulling two wheel carts loaded 8-10 feet high with garbage so it can be done even for garbage pick up. One poor fellow lost his load in the middle of the road. There must be an art to properly tie down large loads so as to not have a spill,  as that was the only load I saw fall over.. Then of coarse you have the pedal bicycle or a pedal/small motor combination. A small motor really helps with long hills. In America many Amish people ride pedal bicycles back and forth to work. Women often get more speed than the men do. Like any where I suppose, the woman is in a hurry to get home for the children and cook the supper.

$ 8-10.00 a gallon, maybe more and you would see people adapt

I could see a heavy tax  on fuel,  also esculating taxes by mileage

People can be creative when it comes to tax the rich

what would happen if oil went to 245?

Uber Economy Class

A picture is worth a 1000 words

Could not have found such a picture to describe what I meant when available money won't buy fuel for larger vechicles

Tks for the picture

That is exactly what I was trying to describe when I posted, people can/will adapt