"Nothing is off the table at this stage. We are looking at targeted support as well as broader measures but it is just too early to say what is needed. Asked by Conservative MPs whether she would rule out addressing a planned increase in fuel duty from September when a 5p cut made after Russia's invasion of Ukraine in 2022 is set to be phased out she said all options were being kept open."
"We always keep all taxes under review. But it is much too early when those changes are not due to come into effect until September to guess where petrol prices will be then. The government was prioritising the de-escalation of the conflict and pushing for the safe passage of oil and gas exports through the critical strait of Hormuz."
"Fuel duty is frozen. It's going to remain frozen until September, and we will keep the situation under review in light of what's happening in Iran. Britain was also willing to play its part to release strategic oil reserves alongside other countries in the 32-member International Energy Agency, in a push to bring down crude prices that have soared."
Chancellor Rachel Reeves has declined to commit to canceling a planned fuel duty increase scheduled for September, stating that nothing is off the table regarding consumer support during volatile energy markets caused by the Iran conflict. The government is exploring both targeted and broader measures to help households facing rising living costs, though Reeves cautioned it remains premature to determine if emergency assistance is necessary. The Treasury is developing contingency plans for an energy support package. The government is prioritizing de-escalation of the conflict, ensuring safe passage of oil and gas through the Strait of Hormuz, and is prepared to release strategic oil reserves alongside other International Energy Agency members to reduce crude prices. Prime Minister Keir Starmer confirmed fuel duty remains frozen until September, with the situation under review.
Read at www.theguardian.com
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