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In 1973, the OPEC Oil Embargo caused the price of gasoline in the US to rise from 39 cents per gallon to 56 cents - a rise of just 36%, but enough to spur a bout of inflation that lasted for 7 years.

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In 1973, the OPEC Oil Embargo caused the price of gasoline in the US to rise from 39 cents per gallon to 56 cents - a rise of just 36%, but enough to spur a bout of inflation that lasted for 7 years.