{"id":474080,"date":"2026-03-13T21:00:08","date_gmt":"2026-03-13T21:00:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/474080\/"},"modified":"2026-03-13T21:00:08","modified_gmt":"2026-03-13T21:00:08","slug":"chancellor-meets-petrol-retailers-over-price-gouging-row","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/474080\/","title":{"rendered":"Chancellor meets petrol retailers over &#8216;price gouging&#8217; row"},"content":{"rendered":"<p><img decoding=\"async\" class=\"cp_picture__img\" src=\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/03\/iStock-2203299736.jpg\"\/>Play Brightcove video<\/p>\n<p class=\"A8Lwr BVYCX\">The Petrol Retailers Association called the meeting with ministers constructive, as ITV News Economics Editor Joel Hills reports<\/p>\n<p class=\"A8Lwr BVYCX\">Chancellor Rachel Reeves told petrol retailers they had a \u201cshared obligation\u201d to keep prices down for motorists after the Petrol Retailers Association (PRA) said &#8220;inflammatory&#8221; comments from government ministers have caused retail staff to be abused by the public.<\/p>\n<p class=\"A8Lwr BVYCX\">Earlier on Friday the PRA, which represents large and small independent petrol retailers across the UK, had criticised comments by ministers around \u201cprice gouging\u201d and \u201cripping off\u201d motorists.<\/p>\n<p class=\"A8Lwr BVYCX\">In the Downing Street meeting on Friday, held with Energy Secretary Ed Miliband and industry chiefs, Reeves said: \u201cWe have concerns around the high prices and we do have a shared obligation.\u201d<\/p>\n<p class=\"A8Lwr BVYCX\">Miliband told them: \u201cWe have said so clearly that we won\u2019t tolerate unfair practices either here or anywhere else in the industry. <\/p>\n<p class=\"A8Lwr BVYCX\">&#8220;It is our obligation as the government to ensure the consumers are treated fairly in this crisis.\u201d<\/p>\n<p class=\"A8Lwr BVYCX\">Subscribe free to <a class=\"qNUzV q7LZa\" href=\"https:\/\/itvnews.substack.com\/\" data-testid=\"fecp-link-anchor\" rel=\"nofollow noopener\" target=\"_blank\">our weekly newsletter<\/a> for exclusive and original coverage from ITV News. Direct to your inbox every Friday morning. <\/p>\n<p class=\"A8Lwr BVYCX\">The meeting was held in response to rising concern around the impact of the Middle East crisis on household finances.<\/p>\n<p class=\"A8Lwr BVYCX\">Gordon Balmer, executive director of the PRA, described the meeting as &#8220;constructive&#8221; but added that no apology was given for the \u201cinflammatory language\u201d. <\/p>\n<p class=\"A8Lwr BVYCX\">\u201cThe meeting went very well. We engaged in constructive discussion with the government on this and we are working collaboratively with them,\u201d he said. <\/p>\n<p class=\"A8Lwr BVYCX\">There were doubts as to whether the PRA would attend the meeting after it announced it had withdrawn because of ministers&#8217; comments.<\/p>\n<p class=\"A8Lwr BVYCX\">The group deleted several of posts on X, which had included the association saying it would not be attending the meeting, and then attended the meeting as planned.<\/p>\n<p class=\"A8Lwr BVYCX\">Mr Balmer said earlier on Friday: \u201cRecently I have heard of incidents from some of our members of retail staff being abused by members of the public, who may have been provoked by the incorrect and inflammatory language emanating from some commentators for example use of the terms \u2018rip offs\u2019 and \u2018profiteering\u2019.<\/p>\n<p class=\"A8Lwr BVYCX\">\u201cOur members are working hard in difficult circumstances making sure that motorists and businesses are getting the fuel they need, at prices that are very competitive, on razor thin or in some cases negative margins which means they are losing money. Our job is to serve the public keeping motorists and businesses on the road\u201d. <\/p>\n<p class=\"A8Lwr BVYCX\">&#8220;There is clearly still a lot of work to do to help politicians and commentators to understand how the fuel market works and our door is always open for constructive dialogue,\u201d he said.<\/p>\n<p class=\"A8Lwr BVYCX\">Prime Minister Keir Starmer wrote on X on Friday afternoon: &#8220;If fuel companies try to rip off customers, my government will step in.&#8221;<\/p>\n<p class=\"A8Lwr BVYCX\">&#8220;Rachel Reeves and Ed Miliband are bringing the bosses of the fuel companies in today, to make sure that customers aren\u2019t losing out because of the conflict in the Middle East.&#8221;<\/p>\n<p class=\"A8Lwr BVYCX\">Earlier on Friday Rachel Reeves had <a class=\"qNUzV q7LZa\" data-testid=\"next-link-anchor\" href=\"https:\/\/www.itv.com\/news\/2026-03-12\/rachel-reeves-asks-watchdog-to-crack-down-on-fuel-rip-offs-amid-iran-war\" rel=\"nofollow noopener\" target=\"_blank\">said she &#8220;will not tolerate&#8221; firms exploiting uncertainty<\/a> in the Middle East for excess financial gain, ahead of a meeting with energy bosses over &#8220;rip-off&#8221; fuel prices. <\/p>\n<p class=\"A8Lwr BVYCX\">The government had already promised to intervene if companies engage in \u201cunfair\u201d practices that would hit customers facing a rise in the price of home heating oil, which is not covered by Ofgem\u2019s energy price cap. <\/p>\n<p class=\"A8Lwr BVYCX\">The war in the Middle East has seen oil prices spike,<a class=\"qNUzV q7LZa\" data-testid=\"next-link-anchor\" href=\"https:\/\/www.itv.com\/news\/2026-03-12\/how-does-the-worlds-emergency-oil-system-work-and-why-is-it-being-used-now\" rel=\"nofollow noopener\" target=\"_blank\"> reaching $100 per barrel <\/a>again on Thursday and threatening higher inflation in the UK and around the world.<\/p>\n<p class=\"A8Lwr BVYCX\">It follows Iran&#8217;s effective blockade of the Strait of Hormuz, a vital shipping lane for oil from the Gulf.<\/p>\n<p class=\"A8Lwr BVYCX\">From Westminster to Washington DC &#8211; our political experts are across all the latest key talking points. Listen to the latest episode below&#8230;\u00a0\u00a0<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"Play Brightcove video The Petrol Retailers Association called the meeting with ministers constructive, as ITV News Economics Editor&hellip;\n","protected":false},"author":2,"featured_media":474081,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,56,54,55],"class_list":["post-474080","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/474080","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=474080"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/474080\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/474081"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=474080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=474080"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=474080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}