UK Urges Fuel Bosses to Limit Petrol Price Hikes Amid Iran War

Chancellor of the Exchequer Rachel Reeves and Energy Secretary Ed Miliband urged petrol retailers and energy suppliers to show restraint on price hikes as the UK’s Labour government tries to show voters it is taking action to limit economic pain resulting from the Iran war.

Reeves and Miliband will meet with the firms in Downing Street on Friday to press retailers and suppliers “on what they are doing to keep prices down,” the Treasury said in an e-mailed statement. Reeves has also written to the Competition and Markets Authority asking it to be on “high alert for unjustifiable prices rises on petrol, diesel and heating oil,” it said.