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What can governments do when petrol prices rocket?

By Christoph Siemroth, Associate Professor (Senior Lecturer) in Economics, University of Essex

The price of oil has changed a lot in the last few weeks. There have been dips as well as peaks, but generally, since the the start of the US-Israeli attacks on Iran at the end of February, the black stuff has been getting more expensive.

As a direct result, petrol and diesel prices in the UK have also rocketed.

Motorists have felt the steep rise on petrol station forecourts, while some fuel sellers have been accused…

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