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On October 17th, 1973, the Organization of Petroleum Exporting Countries (OPEC) proclaimed an oil embargo against the U.S. and Western Europe due to their support of Israel. It also announced a decision to raise the posted price of oil by 70% and cut production by 5% from September's output.

As a result of the gasoline shortage, coupons for rationing were ordered in 1974 and 1975 for Federal Energy Administration, but were never actually used during this crisis.

Source: Wikipedia