Chancellor Cracks Down on Fuel Prices to Combat Gouging - London Business News | Londonlovesbusiness.com
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Chancellor Cracks Down on Fuel Prices to Combat Gouging - London Business News | Londonlovesbusiness.com
"The UK has now begun the release of our share of 13 billion barrels of oil. This Government is taking control of our own energy supply."
"This Government will not tolerate any company exploiting this crisis at consumers' expense."
"We extended the 5p fuel duty cut, and we have pushed out the cheaper fuel finder, empowering people to avoid rip-off prices."
Petrol and diesel prices have surged due to crude oil reaching $100 a barrel amid Middle East conflict. The government plans to empower the Competition and Markets Authority to combat price gouging with a new anti-profiteering framework. Rachel Reeves announced the release of 13 billion barrels of oil to control energy supply. The government extended the 5p fuel duty cut and is working to ensure compliance among filling stations. No immediate solutions for households facing higher fuel costs were announced.
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