Sunday Mar 22, 2026
Sunday Mar 22, 2026
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UK wholesale gas prices have surged to 171.34 pence per therm ($ 2.29) as the Israeli-US war on Iran creates havoc in global energy flows.
Prices have not reached this level since January 2023.
Since the war on Iran began on February 28, wholesale gas has jumped by about 140% in the UK from 71.13 pence per therm ($ 1.33).
Missile strikes have set parts of Qatar’s Ras Laffan LNG complex ablaze, damaging one of the world’s largest gas hubs.
The UK remains heavily dependent on imported energy, particularly gas from the Middle East and Qatar.
