There were two basic embargoes during the Arab-Israeli War one in 1973 and 1974 and one in 1979.
If I remember correctly we went from about 17 cents a gallon for regular gas in 1969 first up to around 50 to 75 cents a gallon for Regular between 1973 and 1975 . Then in 1979 it went up to around a dollar a gallong for regular.
To make more sense to you imagine Gasoline now 5 to 6 dollars a gallon being 5 or 6 times as much. So, the 5 or 6 dollars a gallon became 25 dollars a gallon to 30 dollars a gallon. This actually happened during the 1970s and it sucked most of the wealth out of the U.S. by this happening especially to the working class and middle Class people who once were rich in what they could actually buy then in 1969. By 1980 the richness of blue collar and middle class people was gone forever all the way to now simply by things like the Arab Oil Embargo which was levied against any nations that supported Israel in the Arab Israeli war.
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Oil Embargo, 1973–1974
U.S. Department of State (.gov)
https://history.state.gov › milestones › oil-embargo
Oil Embargo, 1973–1974 ... During the 1973 Arab-Israeli War, Arab members of the Organization of Petroleum Exporting Countries (OPEC) imposed an embargo against ...
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Arab oil embargo,
temporary cessation of oil shipments from the Middle East to the United
States, the Netherlands, Portugal, Rhodesia, and South Africa, ...
November 23 – The Arab embargo is extended to Portugal, Rhodesia and South Africa. November 27 – Nixon signs the Emergency Petroleum Allocation Act authorizing ...
Federal Reserve History
https://www.federalreservehistory.org › essays › oil-shoc...
by M CorbettCited by 52 — October 1973–January 1974 ... From the vantage point of policymakers in the Federal Reserve, an oil embargo by Arab producers against the U.S. further complicated ...
Because of the war, the Organization of Arab Petroleum Exporting Countries (OAPEC) declared an oil embargo against the United States and the Netherlands - ...
U.S. Department of State (.gov)
https://2001-2009.state.gov › time
Second Arab Oil Embargo, 1973-1974. The Second Arab Oil Embargo, which lasted from October 1973 to March 1974, posed a major threat to the U.S. economy.
Oct 11, 2023 — Oil prices spiked during the embargo in 1973. In 1973, action by OPEC sent oil prices skyrocketing and remade the map of oil resource ownership.
Oct 16, 2023 — During the Six-Day War in 1967, Arab oil exporters had sought to mobilize the “oil weapon”—that is, level an embargo against western countries ...
Oct 16, 2013 — The embargo
put pressure on the Western alliance, as the disruption created tension
among our allies (e.g., Japan and parts of Europe) as their ...
2 days ago — In Kuwait, the Arab oil ministers convened and decided to reduce oil production by 5%, to be followed by an additional 5% reduction every month ...
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1973 oil crisis
In
October 1973, the Organization of Arab Petroleum Exporting Countries
announced that it was implementing a total oil embargo against the
countries who had supported Israel at any point during the ... Wikipedia
End date: March 1974
Start date: October 1973
Speed limit: 55 mile per hour gao.gov
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