What oil price jump followed the 1973 embargo for Malaysia?

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The 1973 Oil Embargo's Impact on Malaysia Was Primarily Through Increased Import Costs, Not a Direct Oil Price Jump

While the 1973 Arab oil embargo significantly increased global oil prices, the provided information does not specify a direct oil price jump for Malaysia in the same way it details the rise for the US. Instead, Malaysia experienced the repercussions of these global oil shocks through substantial increases in the prices of imported goods, particularly food, fuel, fertilizer, and chemicals. This indirect transmission of the oil crisis had a considerable effect on the Malaysian economy.
Increased Import Prices Drove Up Costs

Following the 1973 embargo, which saw oil prices surge from US$2.90 to US$11.65 per barrel in the US market within three months, Malaysia faced a significant escalation in its import expenses. Specifically, food import prices alone rose by over 37 per cent in 1974. This surge in food costs contributed to an overall increase of 41 per cent in the country's total import prices during that same year.
Fuel, Fertilizer, and Chemicals Also Saw Price Hikes

Beyond food, the oil shocks also led to substantial price increases for essential commodities such as fuel, fertilizer, and chemicals. These are critical inputs for domestic food production and various industrial processes within Malaysia. The heightened costs of these items directly impacted the agricultural sector and other industries reliant on these imported materials, contributing to inflationary pressures.
Economic Growth Slowed Considerably

The cumulative effect of these increased import costs and broader economic uncertainties stemming from the global oil crisis led to a noticeable slowdown in Malaysia's economic growth. After experiencing an average annual growth rate of 8.4 per cent between 1971 and 1974, the nation's economic expansion decelerated to 3.5 per cent in 1975, reflecting the significant economic headwinds generated by the energy crisis of the 1970s.

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What oil price jump followed the 1973 embargo for Malaysia?

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