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The Guardian - UK
The Guardian - UK
Business
Heather Stewart and Graeme Wearden

Oil price rise creates more pressure on UK policymakers before budget

United Kingdom Clare Lombardelli John Healey Interest Rates
People at a petrol station
Oil prices remain elevated as a result of the Iran war, with severe knock-on effects for consumers. Photograph: Andy Rain/EPA/Shutterstock

Oil prices lurched upwards again on Thursday, creating a growing headache for UK policymakers ahead of John Healey’s budget next month.

While Healey has been keen to present an upbeat picture of the UK’s economic prospects, Treasury sources concede the sharp jump in oil and gas prices means they have “less room” than a month ago.

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