𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Ministers have refused to confirm whether they hold secret briefings on fuel prices – warning that it could spark panic buying and potentially send markets into turmoil.

The Department for Energy Security and Net Zero said it could “neither confirm nor deny” whether briefing notes had been produced on petrol and diesel prices in recent weeks.

The move is unusual for such a politically sensitive cost-of-living issue, with the “neither confirm nor deny” approach more often associated with national security matters.

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 department said ministers are also “actively considering options” on how to deal with the effect the Middle East conflict is having on UK consumers.

Their response read: “The information you have requested, if held, would relate to the formulation and development of policy regarding a response to the Middle East conflict and the effect this is having on global oil and UK retail fuel prices, with ministers and officials actively considering options and assessing evidence in order to inform future decisions.”

Supply chain disruptions previously led to panic buying at petrol stations in 2021, sparking long queues at pumps across the country.