UK gas price shot up by 31% in last week of July

The ONS has said this is the sixth highest increase recorded this year

Big Zero Report 2022

UK gas prices that take a toll on households and businesses alike continue to rise to record highs.

The latest Office for National Statistics report on economic activity and social change suggests the seven-day rolling average gas price increased by 31% in the week to 31st July.

The national statistics agency notes this increase brought the gas price to its highest level since 16th March.

The report suggests the average price of gas hit 9.8p per kilowatt hour, the sixth largest increase this year.

High increases in gas prices have been recorded in recent months, with the most notable rise occurring in the week ending 6 March 2022 (66%).

Earlier today, Ofgem announced the energy price cap will be reviewed every three months, instead of six months which was the practice until now.

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