Introduce a temporary cap on oil and gas prices during periods of extreme market volatility to protect households and businesses from sudden fuel price spikes. The Government should prevent excessive price increases being passed to consumers. We think this would prevent a fuel crisis.

Rising global instability could trigger sharp increases in oil and gas prices, driving up energy bills, transport costs and food prices. Without action, many households and small businesses could face severe financial pressure. A temporary price cap during extreme market shocks would help stabilise costs, protect families from hardship and prevent another major cost-of-living crisis.