UK Gas rose to 85.31 GBp/thm on July 11, 2025, up 1.32% from the previous day. Over the past month, UK Gas's price has fallen 0.15%, but it is still 17.29% higher than a year ago, 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 July of 2025.

A comparative table of weekly UK wholesale market prices across key energy commodities, including gas, electricity, coal, EUA carbon, UKA carbon, and Brent crude oil. The table includes current, previous, and year-on-year values for both day-ahead and year-ahead contracts, as well as 12-month highs and lows.

Wholesale price for crude oil in the United Kingdom is projected to rise from ** to ** U.S. dollars per barrel between 2020 and 2035, respectively. Figures are expected to remain at ** U.S. dollars per barrel in 2040.

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.

The average gas price in Great Britain in May 2025 was 82.59 British pence per therm. This was seven pence higher 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.

Daily data showing SAP of gas, and rolling seven-day average, traded in Great Britain over the On-the-Day Commodity Market (OCM). These are official statistics in development. Source: National Gas Transmission.

Crude Oil rose to 68.75 USD/Bbl on July 11, 2025, up 3.27% from the previous day. Over the past month, Crude Oil's price has risen 1.04%, but it is still 16.37% lower than a year ago, 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 July of 2025.

The National Balancing Point (NBP), the UK's natural gas benchmark, amounted to 95.46 British pence per therm on June 23, 2025, for contracts with delivery in July. Prices are generally higher in the winter months due to greater gas heating demand, especially in weeks of colder weather. The UK NBP, along with the Dutch TTF, serve as benchmarks for natural gas prices in Europe. Impact on consumer prices and household expenditure post-2022 Fluctuations in wholesale natural gas prices often have immediate impacts on UK consumers. In 2023, the consumer price index for gas in the UK rose to 195 index points, using 2015 as the base year. This increase has translated into higher household expenditure on gas, which reached approximately 24.89 billion British pounds in 2023. This figure represents a 23 percent increase from the previous year and a staggering 91 percent rise compared to two years earlier, highlighting the growing financial burden on UK households. Consumption patterns and supply challenges The residential and commercial sector remain the largest consumers of natural gas in the UK, using an estimated 40.7 billion cubic meters in 2023. This was followed by the power sector, which consumed about 15 billion cubic meters. The UK's reliance on gas imports has grown due to declining domestic production. This shift has led to an increased dependence on liquefied natural gas imports and pipeline inflows to meet demand.

Fuel wholesalers' revenue is hugely influenced by trends in the world price of oil. OPEC+ manipulates oil prices by controlling the global oil supply, adjusting production quotas, communicating strategically and collaborating with other major oil producers. Plummeting demand for fuel during the COVID-19 outbreak led to historically low oil prices over 2020-21, causing a sharp dip in revenue and profit. However, cuts to production by OPEC+ led to prices recovering to pre-pandemic levels in February 2021. Oil prices surged to a 14-year high in March 2022 amid supply chain disruptions following key oil exporter Russia's invasion of Ukraine, leading to petrol prices surpassing 180p per litre for the first time. As a result, fuel wholesalers’ revenue surged in 2021-22 and 2022-23. In 2023-24, wholesale prices remained inflated on pre-conflict levels, although they were significantly lower than their peak in June 2022. In 2024-25, prices have returned to pre-conflict levels, driving an expected 0.2% boost in revenue. The industry faces increasing competition from renewable energy sources and the robust growth in alternatively fuelled vehicles (AFVs), as the government has encouraged the purchase of AFVs through government subsidies since 2011. Fuel duty was frozen for the 15th consecutive year in the October 2024 Budget. However, energy consumption in the UK has dipped as technology has become increasingly fuel-efficient. Still, over the five years through 2024-25, revenue is anticipated to grow at a compound annual rate of 0.5% to reach £71.5 billion. Fuel prices will inevitably continue to be dictated by OPEC+ over the coming years. However, geopolitical volatility will threaten this alliance. The prospective ban on new petrol and diesel vehicle sales — part of a wider government policy to target net-zero emissions by 2050 — also threatens future fuel sales. Increasingly stringent environmental regulations will constrain fuel demand. Over the five years through 2029-30, revenue is expected to edge upwards at a compound annual rate of 0.8% to £74.4 billion.

Heating Oil rose to 2.47 USD/Gal on July 11, 2025, up 3.46% from the previous day. Over the past month, Heating Oil's price has risen 11.10%, but it is still 1.60% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on July of 2025.

Natural gas rose to 3.36 USD/MMBtu on July 11, 2025, up 0.58% from the previous day. Over the past month, Natural gas's price has fallen 3.89%, but it is still 44.10% higher than a year ago, 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 July of 2025.

UK Electricity decreased 27.25 GBP/MWh or 26.60% 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.

Dairy product, egg and edible oil wholesalers have faced challenging conditions because of changing consumer tastes and growing competition. Downward pricing pressures from supermarkets have threatened performance, as wholesalers have been forced to cut prices. Dairy and dairy product processors with integrated wholesale functions – like Arla Foods and Muller UK & Ireland Group – have changed the industry's competitive landscape and given further momentum to wholesale bypass. Rising health consciousness and the prevalence of diseases associated with excess fat consumption have weighed on demand, prompting wholesalers to reformulate product offerings and introduce new ranges, including organic goods. Introducing new and innovative products has widened the consumer base for wholesalers. As such, revenue is expected to grow at a compound annual rate of 5.9% over the five years through 2024-25 to £7.8 billion, including an increase of 1.9% in 2024-25. Food-service outlets have struggled as the cost-of-living crisis discourages consumers from eating out regularly, constraining sales opportunities for wholesalers. Revenue is forecast to grow at a compound annual rate of 2.5% over the five years through 2029-30 to £8.9 billion. To support sales, wholesalers will target different markets, likely favouring food-service providers, expand online channels and rollout new and innovative products to meet changing consumer tastes. Wholesalers will likely continue to downscale and simplify operations to reduce outgoings and protect profitability, weighing on revenue. Intense supermarket competition and wholesale bypass will remain significant threats, and volatile milk prices and falling milk consumption will constrain revenue. Amid these challenges, some wholesalers will be forced out of the industry.

The price of gas in the United Kingdom was 106 British pence per therm in the fourth quarter of 2024. It is anticipated gas prices will increase to 131 pence in the second quarter of 2025 before gradually falling to just under 80 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 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.

TTF Gas rose to 35.70 EUR/MWh on July 14, 2025, up 0.39% from the previous day. Over the past month, TTF Gas's price has fallen 5.77%, but it is still 12.68% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on July of 2025.

The average wholesale electricity price in July 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.