Petrol price secrecy sparks concern ministers warn of market turmoil

The Department for Energy Security and Net Zero said it could “neither confirm nor deny” whether documents on petrol and diesel prices exist.

The approach is usually reserved for national security matters, making its use in a cost of living issue highly unusual.

Why the secrecy?

Officials say even confirming the existence of briefings could spark:

• Mass buying at petrol stations
• Strain on fuel supply chains
• Volatility in financial markets

In its response to a freedom of information request by the Press Association, the department claimed that even acknowledging such material could prompt “mass purchasing” at the pumps and “economic damage” to the UK.

Official figures show UK inflation has risen again, driven in part by a sharp increase in petrol and diesel prices linked to the Middle East conflict.

Responding to a request for briefing notes, submissions or summary papers prepared for ministers on changes in fuel prices in February and March, the department said: “The department considers that confirming or denying that information is held would cause instability and economic damage to the wider economy.

“UK petrol and diesel prices, and financial markets more broadly, are very sensitive to the release of any information that relates to factors affecting UK retail fuel prices.

“Confirming or denying that information is held relating to factors affecting fuel prices would cause widespread concerns over security of supply and lead to the mass purchasing of fuel, further distorting fuel prices and putting strain on fuel supply chains.

“This information would also impact the internationally traded crude oil price, causing volatility in UK financial markets and impacting inflation.”

The warning comes as inflation rises again, driven in part by increasing petrol and diesel costs linked to tensions in the Middle East.

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Echoes of past fuel shortages

The situation has drawn comparisons to the UK fuel supply crisis 2021, when fears of shortages led to long queues and empty pumps across the country.

Officials appear keen to avoid a repeat, even if it means limiting what they disclose publicly.

With fuel prices rising and global uncertainty continuing, questions remain over how serious the situation could become and whether withholding information will calm fears or fuel speculation.