Gas prices shot up nearly a third in the last week of July to reach the highest average cost since mid-March, according to new data.
The Office for National Statistics (ONS) has revealed that the National Grid saw the average price for gas increased by 31% to 9.8p per kilowatt hour over the week to July 31.
Energy prices have risen significantly in recent months with prices surging by two thirds in the first week of March, following Russia’s invasion of Ukraine.
Prices have been rising steadily since mid-May, the Office for National Statistics (ONS) said on Thursday.
It comes as energy giant BP revealed its second-quarter profits more than trebled to reach a 14-year high, sparking anger from political groups over energy companies’ soaring earnings.
Poorest under pressure
With this in mind Richard Murphy shared the chart, that shows the cost of living increase is larger for lower-income households.
He wrote: “There is a simple explanation for the performance of the UK on this chart. It is the deliberate policy of UK energy companies who require that the poorest in our communities pay the highest tariffs via pay-as-you go meters. They are systemically abusing the weakest in our society.”
Here is it as a larger image.