Gas stations in Britain have began to run out of fuel as a four-day fuel strike by Shell tanker drivers sparked a wave of panic buying. Six hundred drivers working for two companies that distribute fuel to Shell filling stations around Britain are on strike over low pay.

“Is Britain going back to the 1970s?” asks Ben Traynor in Fleet Street Daily.

I was 14 when I first learned about the 1970s oil price shocks, and how they had caused stagflation (unemployment and inflation rising at the same time) in Britain.