Arab Oil Embargo (1973-74)
Arab members of OPEC embargoed oil exports to the US and allies over support for Israel in the Yom Kippur War. Crude prices quadrupled, gasoline lines stretched around stations, and the US imposed price controls and rationing.
Gasoline prices quadrupled and federal price controls created chronic shortages and lines.
The embargo triggered fuel economy standards, the Strategic Petroleum Reserve, and a lasting US push for energy independence.
Same mechanism as today: a geopolitical conflict in an oil-producing region disrupts supply, and consumers face scarcity and rationing at the retail level.
