BP chair removed over ‘unacceptable’ governance oversight and conduct issues; UK petrol prices hit new Iran war high – business live

The Guardian UK Tuesday 26 May 2026, 11:51 UTC By Graeme Wearden 1 min read

Key Points

BP's chairman has been removed due to concerns over unacceptable governance oversight and conduct issues. Meanwhile, UK petrol prices have reached a new high following the escalation of the Iran war. The energy regulator, Ofgem, is scheduled to announce the latest price cap for the July-September quarter tomorrow.

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The economic consequences of the spike in oil and gas prices since the Iran war started will be brought home to British households tomorrow.

Energy regulator Ofgem is due to set the latest price cap at 7am on Wednesday, dictating the maximum a supplier can charge for the July-September quarter.

Originally published by The Guardian UK Read original →

BP chair removed over ‘unacceptable’ governance oversight and conduct issues; UK petrol prices hit new Iran war high – business live

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