The energy price crunch 2021

The price of energy has dramatically increased in recent months; both in the UK and globally. The prices are causing widespread concern and knock-on impacts for both domestic and commercial energy consumers. This paper sets out the causes of the price rise, impacts in the UK, and possible implications for UK energy policy.

The energy price crunch 2021

Petrol and diesel prices

Average mid-September prices for petrol and diesel were 134.6 and 136.8 pence per litre respectively. They fell rapidly after the coronavirus outbreak largely due to sharp drops in oil prices. Since the first lockdown prices have increased again and are now above their immediate pre-pandemic levels. The UK had the 10th highest petrol and 2nd highest diesel prices in the EU+UK.

Petrol and diesel prices

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