The sales of petrol has rocketed in Britain amid fears of shortage in fuel supply from a potential fuel tanker drivers' strike, local media reported Friday.

The panic buying may be eased a bit as the Unite Union has ruled out the strike action over Easter, reported BBC on Friday.

Sales of unlead petrol rose 172% Thursday, while diesel went up 77%, said the Retail Motor Industry Federation (RMI), which represents independent petrol stations.

RMI said the sales Thursday nearly doubled when compared to a regular Thursday.

British fuel tanker drivers have threatened to go on strike in a bid to improve their working terms and conditions. A union spokeswoman said that the union needed to give a seven-day notice, thus a strike will begin next Monday at the earliest.

The planned strike has triggered panic buying in the country as drivers rush to fill their cars and even jerry cans under the call by the government for getting prepared. Many gas stations have run dry and forced to close for short of supply. Long queuing cars are seen around petrol stations causing traffic hazards around the areas.

Local media and organizations have criticized the government for causing the panic. RMI Petrol blamed the Department of Energy and Climate Change (DECC) for unaccountable failure to prepare properly for potential supply chain disruption.

The government has ordered the Army to train drivers to maintain fuel deliveries. But RMI Petrol said the government should consult the industry first. Just 300 Army drivers cannot possibly replace 2,000 striking civilian drivers.

Some 90 percent of Britain's forecourts are supplied by the United Unions' 2,000 drivers, who deliver duel to Shell and Esso garages and supermarkets.

Downing Street has asked Energy Secretary Ed Davey to meet haulers on Friday to discuss plans in the event of a strike, reported BBC.

Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

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