Chancellor Rachel Reeves says that the government will “everything” [its] Power to protect people in Britain from the knock-on economic influences of conflict between Iran and Israel “.

She told the BBC Sunday with the Laura Kunsberg program in response to the risk of rising energy cost.

The price of global oil rose rapidly on Friday after the initial attacks of Israeli and Iran’s later reaction.

Increase in oil costs increases petrol and diesel prices and can fuel more widely to inflation.

After Russia’s full -scale invasion in Ukraine in 2022, oil prices rose by about $ 130 per barrel, contributing to high prices for UK shopkeepers on everything from transport to meal.

However, the cost of a barrel oil is currently around $ 75, still lower than in January.

Reeves told the BBC, “There is no decency with themselves or the Treasury.”

In 2022, after the beginning of the Ukraine War, the Orthodox government responded to high energy prices by stepping into helping houses with its bills.

The Chancellor said, “We are not near that stage at this time.”

The domestic energy bills gently react to the rising bulk energy prices, and the average bill, as determined by the price cap, is the reasons for the down in July.

If the conflict continues, and especially if there is disruption of shipping in the strainer of the hormuz, the price of waterways, oil and gas from the south coast of Iran may move forward.

However, oil market experts say that there is currently low pressure on the price of oil than three years ago.

Reeves said that the situation in the Middle East was part of the reason that he spent both defense and energy security, Last week announced hisWhich outlined the government’s budget for the rest of the Parliament.

“The lack of investment in our own domestic energy production has revealed us,” he said.

“Investment [announced in the Spending Review] In nuclear energy, in offshore air, in onshore air, carbon capture and storage, it is about ensuring that we are more self -sufficient as a nation, “he said.

Many of those investments will take many years to complete, but some of the government’s employed investments may have an “short period” effects such as investing in home insulation, he said.

Lord John Brown, former Chief Executive Officer of Energy Giant BP, said he believes that it was “very hard push” on energy security and was on infection away from fossil fuels.

Lord Brown, who is now beyond a fund to invest in carbon infection technologies, told Laura Kunsberg that some government plans were “very fast” and would take more time than planned.

Shadow Chancellor Sir Mail Streak stated that “the implications of the latest conflict were very important for” oil prices, equity prices … trade and inflation and therefore the general status of the world economy “.

He said that the UK economy now needs to be “very strong” to face the challenges that are now facing, saying that the government had made a wrong choice by increasing taxes on trade.

He said that the loan and expenditure plan had kept inflation more.