To control its inflation, the US introduced credit controls producing a slump in demand for Canada's housing and auto industry exports in early 1980 thereby triggering the 1980 portion of the larger early 1980s recession in Canada. Most Canadians were also hit hard financially by a steady rise in oil and gas prices during the 1970s, especially their acceleration in 1979 when world-wide oil supply was disrupted by the Iranian revolution, with the price of oil reaching almost $40 a barrel compared to $3 a barrel at the start of the decade.