The price of gas in the United Kingdom was *** British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to *** pence in the second quarter of 2025 before gradually falling to just under ** pence by the second quarter of 2027.
Surging energy costs and the cost of living crisis At the height of the UK's cost of living crisis in 2022, approximately ** percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of **** percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching **** percent, and food prices increasing by **** percent at the height of the crisis. Although prices fell to more expected levels by 2024, an uptick in inflation is forecast for 2025, with prices rising by *** percent in the third quarter of the year. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

UK Gas fell to 72.60 GBp/thm on December 2, 2025, down 1.67% from the previous day. Over the past month, UK Gas's price has fallen 11.75%, and is down 40.33% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on December of 2025.

British gas price is expected to continuously increase until 2035, when prices are forecasted to stabilize. In 2035, low, central and high are expected to reach 43, 64 and 88 British pence per therm, respectively.

The high, central and low projections are used by Her Majesty's Government for policy appraisal and modeling work. Gas prices are influenced by a number of external factors, including new projects in places such as Australia, weather conditions affecting demand, and the price of oil relative to gas.

United Kingdom BOE Forecast: Gas Prices data was reported at 60.000 0.01 GBP/Therm in 2021. This records a decrease from the previous number of 61.000 0.01 GBP/Therm for 2020. United Kingdom BOE Forecast: Gas Prices data is updated yearly, averaging 56.500 0.01 GBP/Therm from Dec 2014 (Median) to 2021, with 8 observations. The data reached an all-time high of 71.000 0.01 GBP/Therm in 2018 and a record low of 37.000 0.01 GBP/Therm in 2015. United Kingdom BOE Forecast: Gas Prices data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.P009: Crude Oil and Gas Prices: Forecast.

The average gas price in Great Britain in July 2025 was 79.28 British pence per therm. This was five pence lower than the same month the year prior and follows a trend of increasing gas prices. Energy prices in the UK Energy prices in the UK have been exceptionally volatile throughout the 2020s. Multiple factors, such as a lack of gas storage availability and the large share of gas in heating, have exacerbated the supply issue in the UK that followed the Russia-Ukraine war. This has also led to many smaller suppliers announcing bankruptcy, while an upped price cap threatened the energy security of numerous households. The United Kingdom has some of the highest household electricity prices worldwide. How is gas used in the UK? According to a 2023 survey conducted by the UK Department for Energy Security and Net Zero, 58 percent of respondents used gas as a heating method during the winter months. On average, household expenditure on energy from gas in the UK stood at some 24.9 billion British pounds in 2023, double the amount spent just two years prior.

Gasoline Prices in the United Kingdom increased to 1.80 USD/Liter in November from 1.78 USD/Liter in October of 2025. This dataset provides the latest reported value for - United Kingdom Gasoline Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The price of gas in the United Kingdom was 80.1 British pence per therm in the third quarter of 2025. It is anticipated gas prices will increase to 85.4 pence in the first quarter of 2026 before gradually falling to just under 77.6 pence by the second quarter of of the year. Surging energy costs and the cost of living crisis At the height of the UK's cost of living crisis in 2022, approximately 91 percent of UK households were experiencing rising prices compared with the previous month. It was during 2022 that the UK's CPI inflation rate reached a peak of 11.1 percent, in October of that year. Food and energy, in particular, were the main drivers of inflation during this period, with energy inflation reaching 26.6 percent, and food prices increasing by 18.2 percent at the height of the crisis. Although prices fell to more expected levels by 2024, an uptick in inflation is forecast for 2025, with prices rising by 3.7 percent in the third quarter of the year. Global Inflation Crisis The UK was not alone in suffering rapid inflation during this time period, with several countries across the world experiencing an inflation crisis. The roots of the crisis began as the global economy gradually emerged from the COVID-19 pandemic in 2021. Blocked-up supply chains, struggled to recover as quickly as consumer demand, with food and energy prices also facing upward pressure. Russia's invasion of Ukraine in February 2022 led to Europe gradually weening itself of cheap Russian energy exports, while for several months Ukraine struggled to export crucial food supplies to the rest of the World.

Natural gas rose to 4.94 USD/MMBtu on December 3, 2025, up 2.04% from the previous day. Over the past month, Natural gas's price has risen 13.71%, and is up 62.29% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on December of 2025.

United Kingdom BOE Forecast: Brent Crude Oil Price data was reported at 71.000 USD/Barrel in 2021. This records a decrease from the previous number of 74.000 USD/Barrel for 2020. United Kingdom BOE Forecast: Brent Crude Oil Price data is updated yearly, averaging 72.500 USD/Barrel from Dec 2014 (Median) to 2021, with 8 observations. The data reached an all-time high of 81.000 USD/Barrel in 2018 and a record low of 43.000 USD/Barrel in 2015. United Kingdom BOE Forecast: Brent Crude Oil Price data remains active status in CEIC and is reported by Bank of England. The data is categorized under Global Database’s United Kingdom – Table UK.P009: Crude Oil and Gas Prices: Forecast.

Wholesale price for natural gas in the United Kingdom is projected to rise from 47 to 64 British pence per therm between 2020 and 2035, respectively. Figures are expected to remain at 64 British pence per therm in 2040.

TTF Gas fell to 27.92 EUR/MWh on December 3, 2025, down 0.17% from the previous day. Over the past month, TTF Gas's price has fallen 14.22%, and is down 40.94% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas - values, historical data, forecasts and news - updated on December of 2025.

On October 27, 2025, the price of ultra-low sulfur unleaded petrol (gasoline) in the United Kingdom averaged 134.4 pence per liter. This compared to 143.26 pence per liter for diesel. Diesel prices were consistently higher than petrol/gasoline prices throughout this period, although the margin varied. Reasons for such differences in pricing lie in the refining process and molecular makeup of the products, with diesel requiring more complex refining processes and being an overall heavier liquid. As motor fuel pricing in the UK is not regulated by a monitoring body, there may also be notable differences in prices between retailers and regions. Supermarkets provide lowest fuel prices in the UK In the UK, much of the motor fuel is sold through supermarkets. Large supermarkets, or hypermarkets, account for more than 40 percent of all motor fuel sales in the country. The reason for their popularity often lies in the fact that they offer lower average prices. In the last four years, regular petrol/gasoline sold at supermarkets was up to six pence per liter cheaper than the national average. How UK fuel prices compare to the rest of the world Tied as they are to crude oil prices, motor fuels are generally cheapest in major producing countries, such as Iran, Venezuela, and Russia. In Europe, costs of importing the raw or finished products, in addition to taxes and levies, may hike up pump prices significantly. The UK is often among the countries with the highest petrol/gasoline prices, alongside other large European car markets such as France and Germany.

Crude Oil fell to 59.17 USD/Bbl on December 2, 2025, down 0.25% from the previous day. Over the past month, Crude Oil's price has fallen 3.08%, and is down 15.40% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on December of 2025.

As of the third quarter of 2025, oil prices in the United Kingdom stood at 68.1 dollars per barrel, with prices expected to fall to 65 dollars a barrel in the fourth quarter of the year.

The United Kingdom Oil and Gas Market is Segmented by Sector (Upstream, Downstream, and Midstream), Location (Onshore and Offshore), and Service (Construction, Maintenance and Turn-Around, and Decommissioning). The Market Sizes and Forecasts are Provided in Terms of Value (USD).

The industry comprises eight Gas Distribution Networks (GDNs) across Great Britain, owned by four companies operating regional monopolies. Gas distributors are heavily regulated through price control frameworks set by Ofgem in the UK and NIAUR in Northern Ireland to protect consumers. Over the five years through 2025-26, gas distributors' revenue is forecast to decline at a compound annual rate of 0.8% to £5.2 billion. A downward trend in natural gas consumption has weighed on allowed revenue in recent years, though the impact of changing consumption trends has been mitigated by constant investment in GDNs to improve efficiency, which has been reflected by price controls. Soaring wholesale gas prices spurred an increase in shrinkage costs in 2021-22, leading to a cut to operating profitability. Price control adjustments allowed gas distributors to recover these cost increases, spurring a jump in revenue and profitability in 2022-23. These costs continued to be recovered in 2023-24, though declining consumption spurred a dip in capacity income, weighing on revenue allowances during the year. Revenue allowances continued to fall in 2024-25, reflecting a reduction in shrinking costs and adjustments made based on Supplier of Last Resort (SoLR) costs. Revenue is set to record renewed growth of 1.6% in 2025-26, supported by revenue true-ups to ensure that deferred revenue from previous periods is settled before moving on to the next price control period. Looking forward, the rising efficiency of GDNs, the rollout of smart meters and the decarbonisation of the energy system will influence gas distributors' revenue. Over the five years through 2030-31, revenue is forecast to climb at a compound annual rate of 1.2% to reach £5.6 billion. Major investment required to decarbonise GDNs, such as innovations to help displace natural gas with biomethane, will necessitate a boost in revenue allowances. Although specific details are yet to be released, Ofgem’s Sector Specific Methodology Decision (SSMD) indicates a potential increase in the allowed cost of equity for RIIO-GD3, boosting revenue and operating profit. Shrinkage costs are expected to decline as gas leak detection systems continue to improve. This is set to ease pressure on operating profit in the coming years.

The average wholesale electricity price in September 2025 in the United Kingdom is forecast to amount to*******British pounds per megawatt-hour, a decrease from the previous month. A record high was reached in August 2022 when day-ahead baseload contracts averaged ***** British pounds per megawatt-hour. Electricity price stabilization in Europe Electricity prices increased in 2024 compared to the previous year, when prices stabilized after the energy supply shortage. Price spikes were driven by the growing wholesale prices of natural gas and coal worldwide, which are among the main sources of power in the region.

… and in the United Kingdom? The United Kingdom was one of the countries with the highest electricity prices worldwide during the energy crisis. Since then, prices have been stabilizing, almost to pre-energy crisis levels. The use of nuclear, wind, and bioenergy for electricity generation has been increasing recently. The fuel types are an alternative to fossil fuels and are part of the country's power generation plans going into the future.

UK Electricity decreased 23.24 GBP/MWh or 22.68% since the beginning of 2025, according to the latest spot benchmarks offered by sellers to buyers priced in megawatt hour (MWh). This dataset includes a chart with historical data for the United Kingdom Electricity Price.