Chancellor Promises to Stop Profiteers After Prices Nearly Tripled Overnight
KEY POINTS
- •Chancellor arranged to meet energy bosses on March 13, 2026, to discuss concerns about profiteering.
- •Energy Minister Michael Shanks expressed worry over skyrocketing heating oil prices nearly trebling since the Iran war began.
- •The Competition and Markets Authority was told by Shanks that profiteering and price gouging would not be tolerated.
In a spirited display of urgent politeness on March 13, 2026, Energy Minister Michael Shanks empathized with Brits fretting over heating oil prices that have nearly trebled since the Iran war ignited economic chaos. Shanks told Sky News that the Competition and Markets Authority definitely, absolutely won’t tolerate any profiteering — because nothing screams national resolve like stern warnings to companies already making billions off soaring prices. Meanwhile, Chancellor meets energy bosses, presumably to discuss how best to remind them that price gouging is frowned upon, just as households try to decide between heating and eating.
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(1 of 3)When heating oil tripled, government’s big move was a meeting reminding billionaires ‘no gouging!’ Meanwhile, guess who’s still cozy in their profits?
The UK’s official anti-profiteering tactic in 2026 is ‘We’re Watching You’ meetings. Because billionaires apparently respect polite notes now.
Prices up 300%? No problem, says Energy Minister Michael Shanks, who's clearly never had to choose between heating or dinner.
Source: Theguardian | Published: 3/13/2026 | Author: Taz Ali
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