Yes. The 70s oil crisis was the result of an economic embargo against the US and Israel during the Arab-Israeli War, which later extended to other countries that supported Israel. And just like you said, it resulted in working class people having extreme difficulty getting and affording gasoline, while the ruling class and government were fully insulated from it.

Oil supply was also mostly balanced out in America with increased usage of domestic and Mexican oil. A sanction on something the US cannot produce or acquire from other sources, such as cheap durable goods or semiconductors, would result in even more significant deleterious effects for the American working class.