Prime Minister Sir Keir Starmer has offered reassurances to those most exposed to rising heating oil prices, by pledging £53m to “vulnerable families”.

The PM outlined a five-point plan at a briefing this morning where he has promised greater government control of the oil market by capping and cutting energy bills and regulating the UK oil market.

The plan will fast track the government’s clean energy plan of £90bn in investment for clean British energy, especially nuclear energy.

Sir Keir has also promised a swift resolution to the war in Iran and was damning of those who would follow the US into war with Iran.

“That is not leading, that is following,” he said.

The conflict in Iran and the subsequent blocking of the Straits of Hormuz has meant the price of oil has sky rocketed, reaching highs of $120 (£90) a barrel last week which is a 66% increase from before the American bombing of Iran.

Consequently, the government has released emergency oil stocks at an unprecedented level, along with providing the £53m will helpfully curb these effects for those whose houses are primarily heated by oil.

The PM shared his own experiences of hardship growing up in a working class family in the 1970s, and said: “This government will always support working people.”

In the long-term however, the governments plans to fast track green energy are crucial in combatting growing instability in the Middle East.

The PM was also keen to stress that the government were working with their allies to reopen the Straits of Hormuz and generally improve the stability of the region.

He said: “We cannot allow the war in the gulf to turn into a windfall for Putin.”

Sir Keir has met with Canadian Prime Minister Mark Carney on Thursday morning, with plans in place to meet with Ukrainian President Volodymyr Zelensky in the afternoon.