Don’t panic, otherwise consumers will have only themselves to blame for shortages
IT’S more than 100 years since the first recorded incidence of panic-buying – of Vicks Vaporub! Actually, there was a very serious reason for a run on the mentholated ointment – people saw it as a way to ward off the Spanish flu which was killing millions worldwide.
But the inevitable result of their actions was that supplies were under pressure and prices went up.
I am sure you can see where I am going with this – the extraordinary fuel shortage caused by drivers following the herd to UK petrol stations and emptying their tanks.
There had been a small issue with the supply of petrol and diesel after a handful of garages were closed by BP and Esso because of a lack of delivery drivers.
But the response to it only served to hugely exacerbate a shortterm problem.
This week’s headlinegrabbing queues for fuel had echoes of the crazy run on toilet rolls at the beginning of the Covid pandemic.
Do you remember how neighbours and friends were messaging each other to hail the discovery of tissue paper with the same gusto as gold prospectors in the Wild West? Apparently, social media research found that the high amount of negative viral posts at that time had acted as an emotional trigger of anxiety and panic, spontaneously spreading fear. Thus, the images and videos of empty shelves and people fighting over toilet rolls created worldwide demand even though there were no problems at manufuacturing centres.
This spilled over into panicbuying of face masks, hand sanitiser and antibacterial wipes and, bizarrely, pasta and canned vegetables.
Move on just 18 months and it seems that lessons have not been learned.
So, who is to blame for the crisis which wasn’t a crisis?
Some claim that the truck driver shortage has been caused by Brexit
but an article in Financial Times a month ago, stated it has been a global issue since the mid-2000s, long before European Union withdrawal.
It quoted the chief economist at American Trucking Associations as saying the number of drivers in general freight in the United States had dropped to 430,000, down from 465,000 people at the start of 2020.
Meanwhile, the secretary-general of the Chartered Institute of Logistics and Transport
International, said members in Australia and central Asia had reported heavy goods vehicle driver shortages of 20%.
In this country, hauliers have also been warning about the diminishing numbers of drivers for years.
The fact is that there is a problem attracting them for myriad reasons, including pay and conditions, including lack of proper facilities and parking to designated rest bays.
Thus, retiring drivers are not being replaced.
Ultimately, this needs to be sorted out, both here and abroad.
We are dependent on drivers to distribute fuel, food and other essential goods and services.
We must look at their conditions and the job must be made more attractive.
In the meantime, we need you, the public, not to be lured into a state of frenzy from occasional stories of potential shortages.
In other words, please, do not go out and stockpile food for Christmas or buy more than you need of any other items this winter.
As we have witnessed over the past few days, the snowball effect of people doing so can be extreme.
History has shown us that panicbuying is unnecessary and pushes up prices. If we all resist doing so, there will be no shortages.
Otherwise, consumers only have themselves to blame.
We are dependent on drivers to distribute fuel, food and other essential goods and services... we must look at their conditions and the job must be made more attractive