Panic buying of gas, ignorance of warnings could be psychological response


(WHTM) — So what’s causing the panic buying of gas? Experts say fear and herd behavior.

Panic buying is blamed for major gas shortages in the South and not the pipeline cyber-attack. About one in four gas stations in North Carolina ran out of fuel.

Kari Eddington, a psychology professor says the images of long lines at the pump speak louder than the warnings not to panic buy.

“You’re seeing the images right, you’re seeing everybody else doing it, you’re probably hearing about it on social media, so even though I know I shouldn’t, there’s the fear of missing out and that fear of regret,” Eddington said.

Some believe the panic buying for gas stems from the pandemic, and the panic buying Americans did for toilet paper, masks and disinfectants last year.

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