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August 7, 1971 - Gas price spike

Updated: Wednesday, August 7 2013, 05:43 AM EDT
On this day back in 1971, the price of gas jumps to 37-cents a gallon.
That's up about four cents from the day before.

The state attorney general back then... Louis Lefkowicz wasn't too thrilled about it.. and announced a full-scale investigation into price-fixing and collusion.

After all of that, just two years later, the Arab oil embargo made 42-cents a gallon a pleasant memory.August 7, 1971 - Gas price spike

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