Gas prices are heating up just before the UK sets a new price cap for hard-pressed consumers (John Stillwell/PA)
(Picture: PA Wire)The price of wholesale gas in the UK has risen past the peak it touched straight after Vladimir Putin’s invasion of Ukraine, just a handful of trading days before the announcement of the UK’s new energy price cap for consumers.
A dizzying run higher for the price on which much of consumers’ bills are based entered its sixth session and reached £5.55 per therm, above the £4.93 touched in early March when Russian tanks were rolling toward Kyiv and a new high for 2022. Soaring energy prices have been driving the cost of living crisis ever since.
