Question to the Department for Energy Security & Net Zero:

To ask the Secretary of State for Energy Security and Net Zero, what recent assessment he has made with Cabinet colleagues of the potential impact of fuel price volatility on (a) the haulage industry, (b) the downstream construction supply chain, and (c) projected levels of new housebuilding in 2026.

The price of petrol and diesel are influenced by a range of factors, and whilst it generally takes several weeks for both rises and falls in the cost of crude oil to be reflected at the pump, events of this magnitude can generate short term price shocks. Although the UK maintains a diverse range of energy sources to bolster our resilience, oil is a globally traded commodity. This means that disruptions or uncertainty in any region can influence prices in the UK until global markets stabilise. We are engaging daily with refiners, importers and distributors to ensure any emerging risks are identified and managed promptly.

The Department for Business and Transport is also monitoring the situation, and is in regular contact with stakeholders, including through the Construction Leadership Council.