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Chancellor Warns Petrol Prices Could Soar Amid Conflict

3/25/2026

27 3 Full Breakdown

Summary

Story summary

Chancellor Rachel Reeves said petrol could reach 147.19p per litre.
Diesel has hit a three-year high after the Middle East conflict.
She announced measures to curb price gouging by empowering the Competition and Markets Authority to enforce an anti-profiteering framework.
Diesel prices have jumped 20% in three weeks amid ongoing volatility in oil markets.
She did not offer immediate solutions.

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Story summary

Chancellor Rachel Reeves said petrol could reach 147.19p per litre.
Diesel has hit a three-year high after the Middle East conflict.
She announced measures to curb price gouging by empowering the Competition and Markets Authority to enforce an anti-profiteering framework.
Diesel prices have jumped 20% in three weeks amid ongoing volatility in oil markets.
She did not offer immediate solutions.