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11 June, 08:09

What caused oil prices to increase in the world since the 1970s?

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  1. 11 June, 10:08
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    The decision to boycott America and punish the west in response to support for Israel in the Yom Kippur war against Egypt led the price of crude to rise from $3 per barrel to $12 by 1974.

    The price of petrol rocketed, making all transport more expensive. There was even talk in Britain of rationing using coupons left over from the second world war.
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