Oil prices latest: Starmer to meet energy bosses after brent crude soars to $115 a barrel – UK Times

A government minister has denied that people will need to ration food as a result of soaring prices following the war in the Middle East.

Environment minister Emma Reynolds told Sky News: “Look, we are not asking people to ration when it comes to food. Supply of food is as normal, just as the supply of petrol is. So no, we’re not asking people to change their behaviour.”

She added: “Obviously, if we did see further increases in energy prices that has an impact, that could have an impact on food inflation, that’s what we saw with the Ukraine conflict.

“So we’re keeping a very, very close eye on that. We’re not complacent about any of these things.”

Conservative leader Kemi Badenoch will travel to Aberdeen on Monday to repeat her call for the UK to drill for more oil and gas in the North Sea.

The Conservatives have also called for a cut in VAT on domestic energy bills and the scrapping of green taxes on power generation, saying these measures will cut bills by £200.

Ahead of her visit, she said: “I know families and business owners across Britain will be very worried about how the global energy crisis will impact them. That’s why I find it appalling that Labour’s solution is to tax working people to fund a bailout for those on benefits.

“By drilling in the North Sea and scrapping Ed Miliband’s crazy green taxes, our cheap power plan would reduce bills by £200 for everyone.”

But speaking to the BBC’s Sunday With Laura Kuenssberg, Mrs Badenoch acknowledged that drilling on its own would not directly impact bills.

The government is “preparing for all eventualities” when it comes to energy supply, a minister has said, but insisted that people do not need to “change their habits”.

Asked whether the government is preparing for further energy price spikes as a result of the Iran war, environment secretary Emma Reynolds told Sky News: “Supply at the moment remains stable, but obviously we’ve got to prepare for all eventualities.

“We hope very much that this conflict can be deescalated, and we’re leading international work with allies around that. But we obviously we have to plan in case that’s not the case, which is why the prime minister, as you say, is meeting with leaders from energy companies and indeed, shipping and logistics today.

“But that is to make sure that we work constructively with the industry. We want to make sure there isn’t any market abuse, of course, but we also need to prepare for all eventualities.”

She added: “I want to just reassure your listeners that supply is stable. So we’re not advising that people change their habits, they should fill up at the petrol pump as usual, and the price cap will affect people until the end of June.”

Sir Keir Starmer will gather business leaders in Downing Street on Monday to address the impact of the Iran war.

The Prime Minister is expected to meet senior representatives from the energy, shipping and financial services industries amid warnings the UK could suffer serious economic damage as a result of the conflict.

Discussion is expected to focus on Iran’s ongoing blockade of the Strait of Hormuz, which has disrupted a vital shipping route for the oil and gas industry along with supplies of other products such as fertiliser.

The meeting will also hear an update on the situation in the region from Major General Richard Cantrill, the UK’s maritime operations commander.

It comes after the Royal Navy announced it was fitting the transport ship RFA Lyme Bay with minehunting drones, understood to be a move intended to provide ministers with options for securing the strait once the situation stabilises.

Downing Street said the aim of the meeting was to hear directly from businesses and discuss how the Government and private sector can work together in responding to the conflict.