"We're going to stand by people in this crisis. We will stand by the British people in this crisis and we will do what it takes to do that. If it's necessary to intervene, we will. The government was preparing for all eventualities regarding potential impacts on energy costs and fuel prices from the ongoing conflict."
"There is evidence this market isn't working well. Some of them [fuel retailers] didn't like it but that's tough because we're going to fight for the British people in this conflict. The government has warned retailers about price gouging and stated the Competition and Markets Authority is monitoring potential unfair pricing practices."
"With five months to go until September, we'll have to see where we are. The government will maintain flexibility on the fuel duty freeze decision, assessing the situation as circumstances develop and making determinations based on economic conditions at that time."
Energy Secretary Ed Miliband has indicated the government will intervene to protect consumers if energy costs surge due to the US-Israel conflict in Iran. Oil and gas prices have risen significantly, with petrol reaching 18-month highs according to the RAC. Miliband stated the government is preparing for all eventualities and will stand by British people during the crisis. He left open the possibility of interventions on fuel duty and energy bills, though noted a decision on maintaining the fuel duty freeze would be made closer to September. The government has also warned fuel retailers about potential price gouging, with the Competition and Markets Authority monitoring the market closely.
Read at www.bbc.com
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