In 1973, Arab state members of OPEC declared they would cut oil production and limit exports to some countries in retaliation for the U.S. supporting Israel in the Yom Kippur War. President Richard Nixon responded by implementing a rationing program to protect U.S. oil supplies and keep costs from spiking. Still, gas prices skyrocketed nearly 40%, and Americans waited in long lines by the pump because of limited supply.
Publication date: 28 February 2026
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