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UK Prime Minister Keir Starmer has warned of government intervention against fuel companies engaging in price gouging, as the Office for National Statistics reported zero GDP growth in January, exacerbating economic concerns following rising oil prices from the Iran situation.

UK Government Signals Intervention on Fuel Price Gouging

UK Prime Minister Keir Starmer stated that the government would intervene if fuel companies engage in price gouging. This statement followed a fuel trade body's earlier withdrawal from a scheduled meeting with the Chancellor. The government is closely monitoring the situation as high oil prices add to the burden on citizens.

UK Economy Sees 'Zero Growth' Amid Iran Concerns

The latest data from the Office for National Statistics (ONS) revealed that the UK economy recorded zero Gross Domestic Product (GDP) growth in January. This flatlining occurred even before US President Donald Trump's 'Operation Epic Fury' in Iran led to higher oil prices. These elevated oil prices are anticipated to negatively impact inflation and overall economic growth.

*Source: The Guardian World (2026-03-13)*

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