[quote=“Susanna, post:15, topic:48030”]
When was Carter president? I can’t remember, too lazy to look it up right now. Yes, I do remember that the so-called shortage was around the time Mom died, and some stations wouldn’t sell more than ten gallons at a time to one customer.
[/quote]January 20, 1977 to January 20, 1981
[quote=“samspade, post:9, topic:48030”]
I was in my 20’s then and remember although we never experienced gas lines where I lived. Government statistics talk about magic numbers.
[/quote]We had gas lines in late November 1973, fairly large ones in mid-to-late December 1973, and crippling ones throughout much of January and February 1974. March’s gas lines were prevented only by odd-even rationing, where the days you could buy gas were dictated by the last digit on your plate. All-letter plates, then much rarer, were assigned as being odd or even, I forget which.
[quote=“Fantasy_Chaser, post:10, topic:48030”]
The gas shortages didn’t come until later, when Arab oil producers embargoed the U.S. for supporting Israel in the Yom Kippur War.
[/quote]Actually there were spot shortages in May through July 1973, as well as dollar purchase limits on highway stations, and shortened station hours in suburban and urban areas. As a result of controls, there were fractional allocations, where stations were supplied first 100% of what they sold during 1972, and then declining percentages that ultimately varied between 60% and 85%, depending on supplier. The perverse operation of price controls actually had more to do with the shortages than the Arab Oil Embargo.
[quote=“Fantasy_Chaser, post:12, topic:48030”]
[QUOTE=Susanna;751846]I thought the gasoline issue came under Jimmy Peanut-Brain Carter.
[/quote]Negative; see my post just before yours. The price had spiked in late '73 or very early '74; I remember because you had to pay a bundle (compared to what it had been) to gas up that big Buick Electra to and from your mother’s funeral in April '74.[/QUOTE]Controls were more important. What happened between March and April 1974 (I remember that price surge particularly well) was that the various crude oil price increases suddenly worked their way through the system, having been slowed by price controls. There was one additional factor that was important at a small minority of stations. Dealer-operated stations were allowed a minimum $0.10 profit per gallon (they were allowed their 1972 margins plus an additional three cents per gallon) and company operated stations only $0.07 per gallon. That disparity was erased in late March 1974. I remember one company-operated station went from 47.5 cents per gallon to 56.8 cents per gallon overnight. Later the price rose to 58.6 cents per gallon before dropping during the oil glut that started late in the summer of 1974.
Ironically the same controls made certain oil and gasoline sales not only unprofitable, but actually losing transactions while the spot market was rocketing, and the companies were forced to sell at prices based on the prior month’s prices. Basically price controls and accompanying supply allocations triggered the shortages between April 1979 and July 1979, where the impact of price controls, in the absence of a so-called embargo, was more obvious.