Here’s why Brits are panic buying gasoline

  • Date: 29-Sep-2021
  • Source: CNBC
  • Sector:Oil & Gas
  • Country:Gulf
  • Who else needs to know?

Here’s why Brits are panic buying gasoline

LONDON — British drivers have been panic buying gasoline in recent days, leading to lengthy lines, gas station closures and . Government ministers have continuously insisted that there is no shortage of fuel in the U.K., but lines to get to gas pumps have been rife since the end of last week. The surge in demand has led to the price of a liter of unleaded gas going up by a penny since Friday, according to motoring organization the RAC. Meanwhile, U.K. retailer Halfords said the sale of jerry cans — which many motorists use to store gasoline — increased by 1,656% over the weekend. Oil giant  and 's Esso confirmed Friday that they had temporarily closed a handful of their U.K. gas stations due to an industry-wide driver shortage which had impacted their supply chains. The problem become more widespread this week following days of consumers stockpiling gas. By Monday, some gas station operators had reported that 90% of their sites were dry, according to the U.K.'s Petrol Retailers Association. On Tuesday, Transport Secretary Grant Shapps told Sky News that the market was seeing "the first very tentative signs of stabilization in forecourt storage," although he acknowledged this