US EditionHigher food and fuel prices could last for more than eight months after Iran war ends, Darren Jones warns
Ministers are stepping up contingency planning as the government says higher food, fuel and travel costs may keep rising after the conflict eases.
- On Sunday, Chief Secretary to the Prime Minister Darren Jones warned UK households should expect higher energy, food, and flight prices for 'eight-plus months from the point of resolution,' extending economic impacts into early 2027.
- The Strait of Hormuz closure, a critical shipping lane carrying 20% of global oil and gas, has sent prices soaring since the US-Iran conflict began in February, disrupting global energy flows.
- Government officials, through 'Exercise Turnstone,' identified potential CO2 shortages affecting food and beer production, prompting funding to reactivate the Ensus bioethanol plant to shore up essential supplies.
- Ministers are closely monitoring stock levels while airports received flexibility to consolidate flight schedules to avoid cancellations, as the government urges drivers to continue traveling as normal.
- Economists warn prolonged disruption increases recession risk, with the Bank of England noting around 1.3 million households face rising mortgage costs following the economic shock.
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46 Articles
UK Warns Iran War Price Shock Could Last Eight Months
Surging food and energy prices caused by the Iran war could last for more than eight months after the conflict ends, Starmer’s right-hand man has said. Higher petrol, food and plane ticket prices will persist for “eight-plus months” following the end of the conflict, chief secretary to the Prime Minister Darren Jones said. The minister said on Sunday: “You’re going to see prices go up a bit as a consequence of what Donald Trump has done in the…
The economic effects of the Iran war will be felt for eight months – from the time a sustainable solution to the Strait of Hormuz is in place. This is stated by the British government, which believes that the effects will be price increases rather than shortages.
Higher food and fuel prices could last for more than eight months after Iran war ends, Darren Jones warns
The blockade of the Strait of Hormuz has prevented oil, gas and ammonia being transported out of the Gulf, which Chief Secretary to the Prime Minister Darren Jones admits will result in energy supply issues.
Dorset Echo
Minister warns of higher food and fuel prices for 8 months once Iran war is over
Chief Secretary to the Prime Minister Darren Jones has shared that food and fuel prices could last for around eight months after the Iran war is over
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