How Reeves plans to stop companies from ‘profiteering’ during Iran war | The IndependentNotifications can be managed in browser preferences.Jump to contentIndependentSwipe for next articleIndependent Bulletin homepageDownload our appAllNewsSportCultureLifestyleHelen CorbettTuesday 24 March 2026 07:57 GMTIran war latest: Oil prices surge after Trump threatens to ‘blow up’ Iranian gas fieldThe Chancellor, Rachel Reeves, is set to announce measures to protect the public from "unfair price rises" in a statement to MPs on Tuesday.These plans, discussed during an emergency Cobra meeting, include an "anti-profiteering framework" to tackle companies exploiting the Middle East crisis.The government is considering bolstering the powers of the Competition and Markets Authority (CMA) to combat price gouging, following suggestions from Sir Keir Starmer.The initiative comes as fuel prices surge, with diesel reaching a three-year high and petrol prices also increasing significantly, impacting drivers ahead of Easter.Lord Richard Walker, the cost-of-living tsar, has advocated for a temporary profit cap to prevent energy and petrol retailers from making excessive profits during the crisis.In fullRachel Reeves to unveil plan to protect Britons from ‘unfair price rises’ amid Middle East crisisThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in