1973 oil embargo (1973-1974)
Arab members of OPEC cut oil exports to the US and its allies after Washington backed Israel in the Yom Kippur War. Oil prices roughly quadrupled, and Americans waited in long gas lines under odd-even rationing.
Gasoline prices roughly doubled within months; the embargo ended after negotiations in March 1974.
It created the Strategic Petroleum Reserve and made oil shocks a recurring feature of American politics.
Like the Hormuz closure today, a geopolitical act shut off a key supply route and sent pump prices soaring within weeks.
