The Times: Ministers are examining plans to ration petrol and diesel supplies at the pump if the conflict in the Middle East continues to restrict the supply of oil to the UK.
— Annmarie Hordern (@annmarie) March 21, 2026
The 1974 fuel shortage was primarily caused by theOrganization of Arab Petroleum Exporting Countries (OAPEC) implementing an oil embargo in October 1973. The embargo targeted the U.S., Japan, and several Western European nations for supporting Israel in the Yom Kippur War, resulting in a 350% increase in oil prices and severe supply shortages.
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