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Gas price passes £1 barrier
Published: 10/06/2008 |
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Gas prices have reached a new record and passed the £1 per therm barrier, it was reported. The price relates to the cost of buying gas in a forward contract for the coming winter – it is more than double last year's cost. "We're having to buy in a world market and pay world prices," a spokesperson for British Gas owners, Centrica, told the Times Online. The increase followed a sharp rise in oil prices, which reached a new high and led to difficulties across the globe. The LA Times has reported Chinese fuel costs have risen nine per cent since January 2007, while the US has seen its figures jump 80 per cent. The news is worrying for consumers already struggling to pay their mortgage and utilities bills. However, the East of England Development Agency will offer £1 million to residents in its area to help them buy renewable energy generation technologies.  |
