The United Kingdom government has warned petrol retailers against unfair pricing as fuel costs rise following the ongoing conflict involving Iran.
Britain’s Energy Secretary, Ed Miliband, issued the warning during a meeting with executives of major fuel companies and forecourt operators in Downing Street. The meeting was also attended by Chancellor of the Exchequer, Rachel Reeves.
The talks involved representatives of major fuel retailers including Asda, BP, ExxonMobil and Shell, amid growing concerns over the impact of rising fuel prices on households.
Miliband said the government would not tolerate any attempt by retailers to exploit the crisis.
He noted that the government has a responsibility to ensure that consumers are treated fairly as the situation continues to affect global oil markets.
Reeves also urged fuel companies to engage in open discussions on the rising pump prices and the pressure facing motorists.
The meeting followed concerns that global oil price increases triggered by the conflict could push fuel prices higher across the United Kingdom.
Meanwhile, the government has asked the country’s competition watchdog to closely monitor pump prices and take action if evidence of profiteering emerges.
The warning comes as motorists across the UK continue to face rising fuel costs linked to developments in the Middle East.
