Date: 11 March 2026 Tags: Energy, Economy, Environment Why this matters: Energy prices influence household finances, industrial competitiveness and inflation across the wider economy. Summary: Researchers say green levies, taxes and subsidies add about 30% to UK household energy bills. The Climate Change Committee estimates the net zero transition will cost over £125bn this decade. Annual spending on the transition could rise from £15bn in 2025 to more than £30bn by 2029. Som

Why this matters: Disruptions to oil supply can drive global energy prices higher, affecting inflation, fuel costs and economic stability. Date: 11 March 2026 Summary: The International Energy Agency will release 400 million barrels of oil from emergency reserves. The move aims to stabilise energy markets disrupted by the US–Iran conflict. The war has halted tanker shipments through the Strait of Hormuz. Around 20% of global oil and gas supply normally passes through the stra

Why this matters: Energy prices influence inflation, fuel costs and economic stability worldwide, making geopolitical conflicts a major market risk. Tags: Energy, Economy, World Summary: Oil and gas prices fell after Donald Trump said the war in Iran was “very complete”. Brent crude had nearly reached $120 per barrel before dropping to about $92. UK gas prices for month-ahead delivery fell to around 126p per therm. The Strait of Hormuz, a key oil shipping route, has seen traf

Why this matters: Rising oil prices can quickly increase transport costs, affecting household budgets and wider inflation. Summary: Chancellor Rachel Reeves announced measures aimed at reducing petrol and diesel costs for drivers. Fuel prices have risen amid global oil market instability linked to Middle East tensions. Brent crude oil prices recently reached about $120 per barrel. UK drivers currently pay about 137.51p per litre for petrol and nearly £1.51 for diesel. The gov

Why this matters: Rising oil prices linked to geopolitical conflict could increase household costs, affecting inflation, fuel prices, and borrowing rates. Summary: Chancellor Rachel Reeves warned the US-Iran conflict may increase inflation in the UK. Oil prices rose above $100 per barrel after Iran closed the Strait of Hormuz shipping route. Reeves told MPs economic impacts depend on the conflict’s severity and duration. She said rising energy costs are likely to put upward p