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Signs at a gas station, which has run out of unleaded and diesel fuel, in Cardiff, Wales, on Friday. Photo: Matthew Horwood/Getty Images

The British government is temporarily suspending competition law and considering sending in the army to help supply gas stations amid a nationwide fuel shortage, per the BBC.

Why it matters: Petrol Retailers Association chair Brian Madderson told Sky News on Monday that two-thirds of its roughly 5,500 independent gas stations had ran out of fuel, with the remainder "partly dry and running out soon."

  • BP, the second-largest fuel retailer in the United Kingdom, said Sunday that nearly a third of its gas stations had run out of main grades, citing panic buying as a cause for the shortage.

The big picture: Gas prices have surged globally, but the U.K. also faces a shortage of truck drivers, which the Conservative government has sought to blame on a "manufactured situation" and panic-buying.

  • Prime Minister Boris Johnson said Saturday the government would issue short-term work visas for foreign truck drivers and poultry workers to help firms address staffing shortages, which Bloomberg noted were "exacerbated by the post-Brexit clampdown on immigration from the European Union."
  • Elizabeth de Jong, director of policy for Logistics U.K., said the country had "lost 72,000 drivers between the second quarter of 2019 and the same period in 2021," in part because of workers returning to EU countries after Brexit, per the BBC.

Go deeper

Schumer urges Biden to tap oil reserves in order to lower gas prices

Photo: Samuel Corum/Bloomberg via Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) urged the Biden administration on Sunday to tap into the nation's emergency petroleum reserves in order to curb soaring gas prices, Reuters reported.

Why it matters: U.S. gas prices have hit seven-year highs and complicated the Biden administration's push for a clean energy transition.

9 mins ago - World

Biden to warn Putin U.S. will add troops in Eastern Europe if Russia invades Ukraine

Putin meets Biden in Geneva. Photo: Peter Klaunzer - Pool/Keystone via Getty

President Biden will warn Russian President Vladimir Putin when they speak on Tuesday that if Russia invades Ukraine, the U.S. is prepared to increase its troop presence, capabilities and military exercises on NATO's "eastern flank," a senior administration official told reporters.

Why it matters: The administration believes it's increasingly likely that Putin will order an invasion.

41 mins ago - World

U.S. announces diplomatic boycott of Beijing Winter Olympics

An Olympic-themed sculpture in Beijing on Dec. 1. Photo: Hou Yu/China News Service via Getty Images

The U.S. announced Monday that it will not send officials to the 2022 Beijing Winter Olympics in protest of human rights abuses committed by the Chinese Communist Party.

Why it matters: The diplomatic boycott — which won't prevent American athletes from competing — marks a major escalation between the U.S. and China amid already heightened tensions over the CCP's treatment of Muslim minorities, military threats to Taiwan and economic tariffs.