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Rachel Reeves could bow to growing pressure to scrap fuel duty hikes amid the global energy price shock – but do you think she should abandon the planned increases?

The Chancellor has hinted that she is considering U-turning on a series of hikes to fuel duty set to begin in September, as UK drivers continue to feel the impact of the Iranian conflict pushing up oil and gas prices.

Energy prices have soared since the US and Israel launched strikes on Iran in late February, leading Tehran to impose a stranglehold on the vital Strait of Hormuz shipping route.

Motorists currently benefit from a 5p fuel duty freeze, cutting 5p a litre of all petrol and diesel, but Ms Reeves previously said that from September it would start to be removed, with 1p or 2p a litre added in phased increments until 2027.

In the surest sign yet that she is considering backtracking on the move, the Chancellor acknowledged on Friday that “people are struggling” and pledged to “do everything in her power to protect them”.

So what do you think? Vote in our poll and join the debate in the comments section.

Ms Reeves told The Sun: “I know families are worried about what’s happening in the world right now. About what it means at the pumps, at the tills and for people’s pockets.

“People are struggling. As Chancellor, my priority is keeping costs down for families and businesses – and I’m angry that they will feel the financial fallout of a war that’s not their fault.”

She added: “Those costs are real, and I want to reassure the British people that I get it – I will do everything in my power to protect them.

“The world is uncertain right now. Working people deserve a Chancellor who listens and acts. I am doing both.”

While both petrol and diesel have begun to slowly ease in cost, prices remain significantly higher than before the Middle East conflict, with petrol at 25p more a litre and diesel 48p higher than at the beginning of the year.

Ms Reeves’ commitment to saving Brits money at the pumps could be hampered by her ongoing effort to fill plug a “black hole” in public finances, with the cost of scrapping the fuel duty hikes estimated to be £2.6 billion.