- The Guardian,
- Wednesday July 2, 2008
Cost of fuel may rise soon as gas price hits record
The price of wholesale gas reached a new record yesterday, fuelling expectations that power providers will hit UK homeowners with a new round of price increases this month. UK forward gas prices for delivery in January 2009 reached a high of £1.13 a therm, up from 50p a therm a year earlier. The price of gas is closely linked to oil, which remained close to a new record of nearly $144 a barrel yesterday. There has been endless speculation – privately confirmed as a possibility by some of Britain’s big six power suppliers – that they might soon raise domestic prices by up to 30%.
Terry Macalister