Yes voters treated the price spike as an emergency already under way, not a hypothetical reason to keep stocks untouched. The most-respected Yes case immediately widened the argument, though: “what I really want the government to do is to reopen refineries and drill for oil in the North Sea etc.”
No voters’ strongest case was about preserving insurance against a deeper crisis. The most-respected No argument urged the UK to “hold on to them in case of a major conflict really spiking prices”; another warned that reserves were “insurance, not an energy policy”. Their case was not simply against intervention: several wanted fuel duty or VAT cut instead, while some Yes voters also asked why tax cuts should not come first.
That overlap points to the debate’s sharper tension: whether relief should come from releasing stocks or reducing the tax burden on fuel. Yet the Yes case that won support was also met by a question of durability: one voter asked whether reserves should be used “when the situation is not really an emergency”, while another asked, “If this isn't an emergency, what is?”
The vote backed using the reserve now, but the arguments repeatedly turned from today’s pump price to the UK’s longer-term exposure: refining capacity, domestic production and how much emergency stock should be held. The Yes verdict came with a demand for more than a release.
41 Opinions
We have no idea how long this war will continue. Using the reserve now could lead to there being nothing available in the future, if things don't change. I don't see things right now, as being an emergency. Maybe use the situation to make and use more electric delivery vehicles, after all, we are meant to be reducing our dependence on diesel, petrol and oil.
No not at this time, nobody knows when these wars will end. As well as being involved with EU and G7 talks more efforts to end the US/Iran war and Russia/Ukraine war has to be done, though it seems trump and putin are big stumbling blocks on them.
I voted yes, but what I really want the government to do is to reopen refineries and drill for oil in the North Sea etc.
Only as a last resort. Better to do it in coordination with other countries so it has a greater impact
What's the point of an emergency reserve if not to use at the time of emergency? As long as it's restocked when prices eventually fall, this is an obvious thing to do.
They should release them, but they probably don't exist.
They should lower fuel tax instead
Diesel prices make food shopping more expensive as companies look to recover transportation costs. Diesel goes up, cost of living goes up, and life becomes more expensive!
If we have them, then yes. Far more impactful to reopen North Sea oil and gas, as well as our onshore refineries.
Voted yes, because the impact of diesel pricing spreads everywhere. But, maybe the treasury could do some simple maths and fix a VAT figure. Or factor a reasonable figure for VAT back into the duty price and remove the VAT altogether so we aren't paying tax on a tax and the volatile base pricing. This really shouldn't be beyond the wit of government to come up with. Could be used as an easement that would be cheaper to implement as well.