UK petrol retailers threatened to boycott a meeting with Chancellor Rachel Reeves after ministers accused them of profiteering during the Iran war. The Petrol Retailers Association claimed inflammatory government comments led to public abuse of staff at fuel stations. Gordon Balmer, the PRA's executive director, said retailers wanted collaboration, not accusations, as diesel prices rose 15.9 pence and petrol climbed 7.5 pence since February.

Ministers including Prime Minister Keir Starmer and Energy Secretary Ed Miliband warned fuel companies against ripping off customers. The dispute reflects broader tensions as 20 per cent of global oil supplies face disruption through the Strait of Hormuz. Cornwall Insight predicts Britain's energy price cap will jump to £1,827 per year for typical households by July, up from £1,641.

The meeting proceeded after government assurances, with major energy suppliers also attending. EdgePetrol data showed average fuel margins actually fell 0.5 per cent to 7.6 per cent since the conflict began. Reeves planned to question why prices vary so widely and what steps stations will take to protect consumers from overpaying.