Energy Secretary Ed Miliband has warned fuel sellers that profiteering will not be tolerated as global oil prices surge. Ministers have asked the Competition and Markets Authority to keep close watch on heating oil and forecourt prices, with meetings scheduled with retailers today, Friday 13 March. The concern is immediate for rural households dependent on heating oil, where prices have jumped sharply since the Strait of Hormuz became a conflict flashpoint. (gov.uk)

Short‑term support is not ruled out. Chancellor Rachel Reeves has said “nothing is off the table” if prices keep rising and confirmed the planned September fuel duty increase will be reviewed. Under current Office for Budget Responsibility assumptions, duty is due to rise in three steps from September 2026 through March 2027; ministers are signalling that timetable could change if conditions warrant it. (theguardian.com)

Price data this week show stark differences between forecourts, from about £1.27 per litre to nearly £1.80. That spread strengthens the case for the UK’s fuel price transparency regime, which requires stations to report prices promptly so drivers can compare-and for the CMA’s ongoing scrutiny of historically high retail margins. (yahoo.com)

If firms exploit the crisis, the watchdog now has sharper teeth. Since 2025, the CMA can directly enforce consumer law and impose penalties of up to 10% of a company’s global turnover, alongside other sanctions. Officials say they stand ready to act quickly where they see evidence of unfair practices. (gov.uk)

Heating oil is an acute pressure point. Around 1.5 million UK homes rely on it, and prices have leapt from roughly 60p per litre on 28 February to more than £1.30 by 9 March-an increase of about 122% in days. The CMA has begun examining consumer reports about delivery quotes and availability. (gov.uk)

Despite calls to change course, Miliband argues the lesson of the crisis is to get off what he has long called the “fossil‑fuel rollercoaster” by building clean, homegrown power. He has repeated in Parliament that reducing exposure to international oil and gas markets is essential for lower, steadier bills and stronger energy security. (parallelparliament.co.uk)

On the North Sea, the government’s stance is to keep extracting from existing fields while banning new licences to explore new ones. Independent analyses back ministers’ claim that more exploration would not materially cut UK bills because the country is a small producer and prices are set internationally, not domestically. (gov.uk)

To bolster firm, low‑carbon capacity, Miliband is launching a fast‑track process for new nuclear projects. The Advanced Nuclear Framework-live from February with a pipeline window opening this spring-promises a concierge‑style route through planning and regulation, building on a taskforce that has called for a radical reset of UK nuclear approvals. (gov.uk)

Efficiency remains the fastest relief for bills. The Treasury and DESNZ point to a £15bn warm homes plan and an expanded Warm Home Discount, targeting 6 million low‑income households, as measures that cut demand now while the build‑out of renewables, storage and nuclear gathers pace. (hansard.parliament.uk)

What happens next will hinge on the trajectory of the Middle East conflict and shipping through Hormuz. Ministers are pressing retailers for data and restraint; the CMA is monitoring for unjustified increases; and G7 partners have discussed coordinated steps to ease market strains. The signal from London is clear: protect consumers today while accelerating the shift that makes the UK less exposed tomorrow. (hansard.parliament.uk)