Published by Global Banking & Finance Review®
Posted on March 9, 2026
1 min readLast updated: April 1, 2026
Add as preferred source on GoogleUK Finance Minister Rachel Reeves says rapid de-escalation in the Middle East is the most effective way to shield Britain from surging energy costs, pledging regulatory vigilance to prevent profiteering amid oil price spikes.
LONDON, March 9 (Reuters) - A rapid de-escalation in the Middle East is the best way to protect Britain from rising energy prices, finance minister Rachel Reeves said, adding that she would keep monitoring prices after a spike in the price of oil.
"I am clear that the best way to keep prices at the pump low is rapid de-escalation, and I will continue to monitor prices as the situation develops," Reeves told lawmakers, adding she had asked regulators to be vigilant on prices for essentials like road fuel.
"I will not tolerate any company exploiting the current crisis to make excess profits at consumers' expense."
(Reporting by William James and Catarina Demony, writing by Alistair Smout)
Rachel Reeves said rapid de-escalation in the Middle East is the best way to protect Britain from rising energy prices.
The finance minister is monitoring prices and has asked regulators to stay vigilant regarding essentials like road fuel.
Reeves stated she would not tolerate any company exploiting the crisis for excess profits at consumers' expense.
De-escalation helps lower the risk of rising oil and energy prices, benefiting UK consumers at the pump.
The comments were reported by William James and Catarina Demony, with writing by Alistair Smout.
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