UK Suspends Competition Law To Tackle Fuel Panic Buying

The UK government has temporarily suspended the Competition Act of 1998 to allow oil companies to help each other stock up on gasoline and diesel amid panic buying that started last week that has left 90% of fuel pumps dry in some of Britain's largest cities. The panic buying began last week when the news emerged that BP was going to close several gas stations. The reason for the closure had nothing to do with the availability of fuels. Instead, it was caused by a shortage of tanker truck drivers. Nevertheless, the shortage sparked immediate panic…