Lifting of Price Controls

Date: January 28, 1981 • Location: Washington, United States

U.S. president Ronald Reagan lifted price controls from petroleum products, contributing to the 1980s oil glut.

Ronald Wilson Reagan was an American politician and actor who served as the 40th president of the United States from 1981 to 1989. A member of the Republican Party, he became an important figure in the American conservative movement. The period encompassing his presidency is known as the Reagan era.