The last time something like this happened was back in the 1970s when there was a massive hike in fuel prices and petrol rationing was prepared for, but not, in the end, brought into play.
https://en.wikipedia.org/wiki/1970s_energy_crisis
It caused a massive recession. When people rattle on about how bad the 1970s were, this was the root cause of all the difficulties. It led to high inflation, and ultimately to a long succession of strikes for more pay including the so-called 'winter of discontent'.
We are looking at something similar. However, in my role of ambassador for the 1970s, I will point out that in some areas we were much better off back then. Housing was much cheaper in real terms, and rented council accommodation was practically free to all compared to now. The NHS was fully functional. We were less reliant on oil and gas - much power was still produced by coal.
How this will end, God knows. Much will depend on how long people continue in their delusions, courtesy of the
Daily Mail and its ilk. Given that there are
still people out there who think Johnson was the bee's knees, I am not hopeful.
My guess is this winter will not be pretty and there will be widespread social unrest. But whether the British will actually find the bottle to do something about it, instead of just moaning, I don't know.
The only 'cure' is an end to the war in Ukraine, followed by rapid normalisation. Really we should be bursting our balls to put in wind farms, solar panels, and nuclear power stations, but none of this can be done overnight. It will take years and very considerable expenditure.