UK Chancellor Reeves says government will not tolerate price gouging on petrol prices
Newsquawk Staff ·
UK Chancellor Reeves says government will not tolerate price gouging on petrol prices.
What it means
Chancellor Reeves' remarks indicate a regulatory stance against price gouging in the UK petrol market, suggesting potential measures to control prices. This could lead to scrutiny on major gasoline suppliers, influencing their margins and market behavior. Stakeholders should monitor for any follow-up actions that could affect energy market stability and price dynamics.
- ADNOC reportedly informed some Asian refiners that it may begin delivering Upper Zakum crude via a new pipeline to the Fujairah terminal in early 2027, allowing shipments to bypass the disrupted Strait of Hormuz, according to Bloomberg
- Russia and Azerbaijan are discussing natural gas swap supplies, reports Interfax
- US White House says the oil agreement with Venezuela will deliver a total of 65bln barrels
- Syria and Iraq discuss exporting Iraqi oil via the Baniyas pipeline
- US Weekly Private Energy Inventory Data (bbls): Crude -2.0mln (exp. +0.5mln), Gasoline +2.4mln (exp. -1.3mln), Distillate +0.4mln (exp. -0.9mln), Cushing -0.5mln
Related headlines
- UAE’s Sharjah temporarily closes all its beaches as a precautionary measure after an oil spill, according to a statement3 hours ago
- Russian Deputy PM Novak says they are open to work with US partners on energy, but there are no current discussions around a return to specific projects4 hours ago
- Equinor (EQNR NO) CEO says what happens in the Middle East determines the price of oil, refined products and gas; hopes that Britain will approve the Rosebank oilfield6 hours ago
- US EIA Gasoline Production Change (Oct/23) -0.509M (Prev. 0.518M)25 min ago
- US EIA Gasoline Stocks Change (Oct/23) 3.87M vs. Exp. -0.9M (Prev. -2.952M)25 min ago
- EIA Expectations: Crude +0.35M, Distillate -0.63M, Gasoline -1M40 min ago
- PREVIEW: BoC Rate Decision and Governor Statement due Wednesday 28th October, 2026 at 13:45GMT/09:45EDT1 hour ago
- US Midterms (6 days out): Florida flips to a Republican early-vote lead and Kansas narrows further; Crystal Ball shifts House and Senate races towards Democrats1 hour ago
- UK Budget, 28th October 2026: An uneventful budget expected, but the reaction risks are skewed negative3 hours ago
- EUROPEAN OPEN: SKHY surges after Q3 profits; EQNR NO lifts FY production view; UBSG SW Q3 net income miss; DBK GY posts third straight record profit; MBG GY Q3 revenue & earnings fall; ULVR LN raises FY volume growth view; GSK LN Q3 profit & revenue beat6 hours ago
- US EIA Heating Oil Stocks Change (Oct/23) 0.164M (Prev. 0.652M)25 min ago
- US EIA Crude Oil Imports Change (Oct/23) -0.796M (Prev. 0.837M)25 min ago
- US EIA Distillate Stocks Change (Oct/23) -1.462M vs. Exp. -0.9M (Prev. 1.675M)25 min ago
- EIA Cushing Crude Oil Stocks Change (Oct/23) -0.624M (Prev. 0.987M)25 min ago
- US EIA Refinery Crude Runs Change (Oct/23) -0.123M (Prev. 0.034M)25 min ago