Fuel panic: petrol prices rise as demand rockets.
On Wednesday, Cabinet Minister Francis Maude urged British people to store jerry cans of petrol inside their homes. This warning was a major mistake firstly as it lead to incidents of violence and accidents like the aforementioned and secondly as there is a legal limit to the amount of fuel a person can legally store in their home.
Furthermore, just hours after Maude advised drivers to fill up any spare jerry cans with petrol, British Prime Minister David Cameron urged the public to take the “sensible precaution” and top up on petrol compounding the sense of panic among the British public.
Then on Thursday, British Energy Secretary Ed Davy told drivers to double the amount of fuel they purchased and to keep their petrol tanks two-thirds full.
Matt Wrack, FBU general secretary said
“Those without garages may be tempted to store fuel in the home. In the event of a fire in the house or a neighboring property, it would be disastrous.”
£32 million in extra fuel excise duty was made by the British government from panic buying, a cynic might say that in a struggling economy a little scare like this can have large rewards for the right people.
This is also forewarning for people who are wise enough to take heed.We know that oil prices and thus fuel prices are extremely precarious at this moment in time, there are many situations effecting price from wars and unrest in the middle east to a general shortage of crude.
When we see the effects that a warning over a strike can have we should give serious thought to what we should be preparing for if something a lot worse were to happen.Maybe this crazy screw up by the British government can actually be a blessing and force people to look at their dependence and buying habits and they can then change them so they are a little more prepared.
The latest statement from the Foreign Secretary came after last week’s closure of dozens of petrol stations amid chaos across the UK.
He declared: “The country is in a better state of preparedness now than it was a week ago for the eventuality of a tanker strike.”
Thousands of truckers joined meetings with Unions and fuel firms and held crunch talks in a bid to avert a crippling stoppage .
He said: “I think they’ve handled that correctly.” But he admitted that Mr Maude made a “technical error” by telling people to use jerry cans. One hauliers’ leader Andrew Spence warned yesterday that up to 4,000 truckers were ready to back the tanker drivers if they go on strike. His men plan to blockade refineries and cause gridlock on motorways and to stop the Army from moving fuel around the UK.So will we see the country being held to ransom? it should become alarming clear to people how dependent they are on the black gold.
The system is so very fragile and as we have discussed before a governments policy and agenda is indeed effected by the demand for oil and the spin the government puts on certain events and certain countries can be traced back to the fear of depleting oil reserves and escalating prices.
The latest sees panic buying seeming to be over. Sales of petrol and diesel fell on Friday and Saturday after Thursday’s peak but who’s to say this is the end or just prelude to more difficult times ahead, oil prices continue to fluctuate wildly.