Chancellor Rachel Reeves said the United Kingdom is not facing an immediate shortage of petrol, diesel or jet fuel, stressing that there are currently no supply issues. Speaking at the end of the International Monetary Fund meeting in Washington, she said the government is closely monitoring the situation amid rising global energy prices linked to the conflict in the Middle East.

Her comments came as the International Monetary Fund urged countries to consider managing energy demand through steps such as subsidising public transport or encouraging working from home. The International Energy Agency warned that Europe has around six weeks of jet fuel supplies before stocks could fall to levels that risk shortages and flight cancellations.

Reeves said the government will soon announce changes to energy policy, including reforms to break the link between gas and electricity prices and plans for further oil and gas extraction in the North Sea through tie-backs to existing infrastructure. She also welcomed stronger than expected economic growth in February, though the International Monetary Fund has lowered its growth forecast for the United Kingdom this year, citing the impact of the conflict on advanced economies.