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UK Gas Prices Have Nearly Doubled This Week
Market Intelligence Analysis
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Why This Matters
UK gas prices have nearly doubled this week due to the escalating conflict in the Middle East, with wholesale prices reaching a 2-year high of 148p per therm.
Market Impact
Market impact analysis based on bearish sentiment with 85% confidence.
Sentiment
Bearish
AI Confidence
85%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
Gas prices in the UK have nearly doubled as the war between US and Iran ramped up since the weekend. The price of UK wholesale gas prices – which reflect the costs energy suppliers pay to producers for natural gas before selling to household and businesses – has rocketed by 93 per cent in just this week alone. The price of gas briefly hit 151p a therm amid the conflict in the Middle East, a level not seen since February 2023, before easing back to around 148p. The move followed a 32 per cent jump on Tuesday, which sits on top of a 50…
AI Breakdown
Summary
UK gas prices have nearly doubled this week due to the escalating conflict in the Middle East, with wholesale prices reaching a 2-year high of 148p per therm.
Market Impact
Market impact analysis based on bearish sentiment with 85% confidence.
Time Horizon
Short Term
Original article published by
OilPrice.com
on March 3, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.