Price of gas rises

• By E4B
• 10 June 2008
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New figures have been released that claim the price of gas rose has risen by five per cent from last week.

According to reports, gas prices increased to over £1 for delivery during the first quarter of next year, meaning both domestic and business energy clients may experience rising bills in the coming months.

The rise in the cost has come despite the fact that supplies are traditionally cheaper in the warmers months of the years.

Discussing the issue with The Times, a spokesperson for British Gas owner Centrica said that prices in the UK are close to those of the world's largest gas importer, Japan.

He added: "We're having to buy in a world market and pay world prices."

Giving evidence to a recent cross-party MP committee, Ineos ChlorVinyls chief executive Christopher Tane said that energy prices in the UK are "significantly higher" than those in Europe.

According to the Guardian, he added that authorities should take action on the issue.