UK Gas Prices Surge 366% Since 2024
SSE to Cut Prices by 228%
Forward Delivery Contracts Show Continued Increase
The average gas price in Great Britain has increased by a staggering 366% since the beginning of 2024, according to data from Statista Research Department. This surge in prices has been driven by a combination of factors, including increased demand, reduced supply, and the ongoing conflict in Ukraine.
In response to the rising costs, SSE has announced plans to cut gas prices for its customers by 228% from April. This move is expected to save the average household hundreds of pounds. However, despite this cut, prices will still remain significantly higher than they were before the beginning of 2024.
The wholesale price of gas has also been rising steadily in recent months, with forward delivery contracts indicating that further increases are likely. This means that the high gas prices are likely to continue for the foreseeable future.
The rising cost of gas is putting a significant strain on household budgets, and it is likely to have a negative impact on the UK economy. The government has been urged to take action to help reduce the burden on consumers.
Statista
Statista
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