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Evening Standard
Evening Standard
Business
Michael Hunter

Gas prices near peak hit after invasion of Ukraine ahead of new cap

Rising energy prices are the driving force of the cost-of-living crisis

(Picture: PA)

Wholesale gas prices in the UK are rising fast -- heading near to the peak they touched in the immediate aftermath of Russia’s invasion of Ukraine – just a week before regulators set a new price cap for consumers’ energy costs.

The continued increase means customers are looking at even higher bills even before the autumn weather bites, with the UK braced for a bleak economic winter, with inflation forecast to top 13% as rising energy prices drive the cost-of-living crisis.

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