Energy and Environment

Raising petrol prices would deter panic buying


Christopher Snowdon writes for The Critic

In an op-ed for The Critic, IEA Head of Lifestyle Economics argued raising prices at the pumps would deter consumers from panic buying. Christopher suggested that allowing market prises to reflect the fall in supply and increase in demand would make “the frivolous panic-buyer… bear the cost of his irrationality”.

Although a price increase would hurt people on lower incomes, Christopher argued that expensive fuel is better than no fuel.

Read the full article here.



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