Crosswords1 min ago
I Can't Remember
5 Answers
when the enormous increase in gas, electricity and petrol suddenly rocketed. What started the rise in all these thing and why such a massive increase?
Answers
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Quote:
"A worldwide squeeze on energy supplies pushed the price of gas up last year.
But wholesale prices have risen even higher since the invasion of Ukraine by Russia, which is the world's largest natural gas exporter
The UK gets little of its gas from Russia directly, but prices could still be driven up worldwide if Russian supplies to Europe were affected."
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(The majority of the UK's electricity is generated using natural gas, so an increase in gas prices leads to an increase in electricity prices too).
Oil prices are high (leading to higher prices for petrol at the pumps) partly because of greatly increased demand from nations like China, where hundreds of millions of people are switching from riding bicycles to driving cars, but also because conflict involving any oil-producing nation (such as Russia) tends to lead to instability in the markets and higher prices.
"A worldwide squeeze on energy supplies pushed the price of gas up last year.
But wholesale prices have risen even higher since the invasion of Ukraine by Russia, which is the world's largest natural gas exporter
The UK gets little of its gas from Russia directly, but prices could still be driven up worldwide if Russian supplies to Europe were affected."
https:/
(The majority of the UK's electricity is generated using natural gas, so an increase in gas prices leads to an increase in electricity prices too).
Oil prices are high (leading to higher prices for petrol at the pumps) partly because of greatly increased demand from nations like China, where hundreds of millions of people are switching from riding bicycles to driving cars, but also because conflict involving any oil-producing nation (such as Russia) tends to lead to instability in the markets and higher prices.
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