Irish Examiner View: Ireland must reduce fuel consumption now

Despite price 'gouging' democratic nations such as Ireland do not have the levers to prevent prices rising under normal circumstances.

It is easy to sympathise with public outrage on what is perceived as price “gouging” by petrol and diesel retailers as inflation hits its highest level for 21 years, with more to come.

“Don’t they know there’s a war on?” is a frequent question. However, the reality is that, as far as our commitment to free market economics is concerned, we are not at war. In wartime, governments have extensive powers to control resources and prices, implement rationing, restrict movement, suspend liberties, introduce conscription, enact censorship, and establish currency controls. In fact, society would look something like Russia does today.