Martin Lewis has revealed the impact the conflict in Iran and the Middle East has had on energy prices. On his ITV show on Tuesday (3 March), the Money Saving Expert founder revealed a graph, showing a stark percentage rise on wholesale gas prices, since the conflict broke out on Friday. “The reason I am showing you gas prices is it is the biggest factor that feeds into electricity prices as well,” he explained. “This is probably the biggest percentage rise we have ever seen in two days, scary isn’ it?” He then showed the rise in context to when the war broke out between Ukraine and Russia. He added: “We are not in the Ukraine spike situation, but it has gone up.”
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Martin Lewis has revealed the impact the conflict in Iran and the Middle East has had on energy prices.
On his ITV show on Tuesday (3 March), the Money Saving Expert founder revealed a graph, showing a stark percentage rise on wholesale gas prices, since the conflict broke out on Friday.
“The reason I am showing you gas prices is it is the biggest factor that feeds into electricity prices as well,” he explained.
Conflict in the Middle East has driven up wholesale gas prices
As conflict in the Middle East escalates, prices of goods and services could continue to rise
Household gas prices rose across EU capitals between early February and early April, reflecting the impact of Middle East…
The conflict in the Middle East could raise the cost of petrol, household energy bills and even food.
With fuel and gas prices having risen in recent days, here are some ways the conflict could affect households.
Conflict in the Middle East often leads to higher wholesale energy prices, which can feed through to inflation.
From petrol to groceries: how Middle East crisis is driving up prices
