Since the start of the Middle East conflict, fuel prices have risen sharply across the world.
Sir Keir Starmer has held talks with energy bosses at No 10 where they discussed how to handle the economic fallout of the conflict.
A 5p cut in fuel duty introduced when Russia invaded Ukraine was due to be phased out from September, but the Prime Minister said “we will keep the situation under review in the light of what is happening in Iran”.
Rachel Reeves has suggested a package of support for energy bills – which are also surging due to the conflict – would not arrive until the autumn.
The UK also has an emergency framework, which sets out how the Government would respond to a “severe national fuel supply shortage”, that was last updated in 2024.
It details measures that would be used to curb a crisis, such as limiting the amount of fuel ordinary customers can buy.
Earlier this week, Downing Street stressed that service stations nationwide are well-stocked – and Starmer suggested that closer ties with the European Union are needed due to the global impact of the war.
But the UK has yet to outline exactly how it could respond to possible oil shortages as a result of the Iran conflict, unlike many other countries across the world. Below, The i Paper takes a look at how other nations are preparing for a fuel crisis.
Spain
Spain’s government has proposed measures worth €5bn (£4.34bn) to counter the economic impact of the conflict on local energy prices.
The measures include the reduction of value added tax on electricity bills to 10 per cent, cutting fuel prices by up to €30 cents (£26p) per litre and granting a fuel subsidy of €0.20 (£17p) cents per litre for the farming and transport sectors.
Spain’s prime minister Pedro Sánchez said the measures, which are not yet approved by the country’s parliament, would be in place for as long as necessary, but that “no plan can neutralise the misery of this illegal war”.
“These are five billion euros that we could be allocating to scholarships, healthcare and long-term care. I’m very, very angry with the situation,” Sánchez said.
Italy
Italy has cut excise duties on fuels – which reduced its price to 25 cents (20p) per litre – as part of measures to help families and businesses cope with higher energy costs.
Officials said the lower excise duties would stay in place for around 20 days.
As part of the package, the government plans to spend €608m (£530.3m) on tax breaks to help trucking companies buy diesel, according to a draft of the decree.
Ireland
Ireland has announced it will cut excise duty on fuels until the end of May as part of a €250m (£218.2m) package to cushion the economic impact of the Middle East conflict.
Its move comes as the surging price of crude oil has led to prices at some Irish service stations rising above €2 (£1.75) per litre of unleaded fuel – a level last reached in 2022 at the start of the Ukraine conflict.
The cut to excise duty of €15 cents (13p) per litre on petrol and €20 cents (£17p) on diesel took effect from midnight on Tuesday (31 March).
The government is also set to a pause the National Oil Reserves Agency (Nora) levy for two months, which will reduce the price of motoring fuel and home heating oil by an additional two cents per litre, but this will require the passing of additional legislation.
Germany
Under a measure introduced by Germany’s parliament, petrol stations will be permitted to increase prices only once daily, at 12pm local time, while reductions are permitted at any time.
Breaches could be punished with fines of up to €100,000 (£87,228).
Fuel prices of well above €2 per litre have become increasingly common in Germany since late February.
The German government said the rule is intended to break the “rocket and feather effect” where “fuel prices often rose very quickly in the past when crude oil prices rose, but only fell slowly when the oil prices dropped”.
The price of petrol and diesel has soared due to the conflict in the Middle East (Photo: AFP via Getty)Australia
Australia is among a host of nations that have seen fuel prices increase sharply since the start of the conflict.
To ease pressure on motorists, two Australian states have made public transport free in a bid to encourage people not to drive.
Victoria said it will have free travel throughout April. In Tasmania, commuters will not need to pay for public transport until the end of June, and paid-for school buses are being made free.
Victoria Premier Jacinta Allan said: “This won’t solve every problem, but it’s an immediate step to help Victorians right now.”
Australia’s government has also announced it would halve fuel excise tax for three months, a move that slashes the cost of filling a 65-litre vehicle by nearly $23 (£12.01) – and will cost the Australian taxpayer $2.55bn (£1.30 bn).
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