Think about gasoline consumption in an economy. If gas is $1/gal in today's dollars you can make many trips, they're almost free. At $3/gal people do some prudent economizing. At $10/gal people stop driving and take the bus, carpool, etc.

Making the price go up 10x won't cut consumption by 90% though, maybe only 50%. Trades still need to get to the job, food still has to get delivered to stores and some people who make huge salaries will still drive to work.

During the pandemic fuel demand didn't go down by 50% and yet the price dropped dramatically. Sure office workers stayed home but that's not 80% of the jobs. Think about how much the gas price dropped vs how much traffic was still on the streets. It almost certainly wasn't a linear relationship.