Tag: UKFuelSupply

UK fuel supply stable despite global energy concerns Rachel Reeves confirmed the United Kingdom does not face any shortages of jet fuel, petrol or diesel. She assured that the fuel supply in the United Kingdom is stable after the meeting with the International Monetary Fund held recently in Washington. The official stated that they are monitoring closely the situation. She expressed her confidence, however, that fuel supply is not currently disrupted. Global Energy Crisis Raising Concerns Global energy markets are under stress due to the rising tensions across the Middle East. Fuel prices have risen and there is uncertainty around the world due to this conflict. Recent warnings from the International Energy Agency warned of a possible shortage of jet fuel in Europe within a few weeks. A number of countries are already taking measures to reduce fuel consumption. They include encouraging public transportation and remote work. UK Energy Policy Changes Expected Soon Rachel Reeves shared with the audience that the Government is also preparing a new energy policy. The changes will be centered on the oil and gas industry in North Sea, and reforms to electricity prices. The link between electricity and gas prices is a major concern. Currently, the cost of electricity often increases along with gas, even if production costs are stable. Reeves stressed the importance of separating these price systems in order to protect consumers. In the North Sea, government officials are also looking into "tie back" projects. The method connects new reserves of oil and natural gas to the existing infrastructure. This method reduces the requirement for new infrastructure and increases production. UK economy shows early growth Recent data indicates that UK economic performance has been better than anticipated earlier in the year. The growth rate reached 0.5% during February. January's figures have been revised down to 0.1%. The future may see a slowdown in growth despite this promising start. IMF has reduced its UK annual growth projection from 1,3% to 0,8%. The IMF warned that global tensions may have an impact on economic stability.
Politics

UK fuel supply stable despite global energy concerns

Rachel Reeves confirmed the United Kingdom does not face any shortages of…

Register Lost your password?