UK wholesale fuel costs have risen once more and at the moment are at their highest stage since mid-February.

Prices rose to almost 135 pence a therm (a unit of warmth used to measure fuel) on Friday afternoon.

It comes after fuel prices hit a six-month excessive of nearly 123p a therm on Tuesday afternoon – a stage not seen since early April.

Higher fuel costs can convey up family payments as electrical energy prices are linked to wholesale fuel costs.

The UK is braced for elevated demand for fuel with temperatures to nosedive this weekend, whereas the Israel-Hamas war has led to the closure of a fuel discipline off the coast of Israel.

The Tamar pure fuel discipline was closed on the request of Israel’s power division and has resulted in suspended manufacturing from Monday.

The discipline offers fuel to Israel, powering electrical energy turbines, in addition to supplying Egypt and Jordan.

There has additionally been provide disruption after a leak was found within the Balticconnector pipeline, which sends fuel between Estonia and Finland.

The Finnish Prime Minister Petteri Orpo mentioned the injury might have been performed intentionally.

There have been additional provide issues as a result of risk of strike motion by fuel employees in Australia.

Gas is used to generate electrical energy. On Friday afternoon, 10% of British electrical energy was produced from fuel.

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The highest ever UK wholesale fuel worth was recorded on 26 August 2022, at a value of 640 pence a therm.

Energy prices, notably the value of fuel, sky rocketed within the wake of Russia’s invasion of Ukraine.

Western nations have raced to finish their use of Russian fuel, growing demand on various provides and pushing costs up.

The most up-to-date excessive was recorded on 15 February 2023, when UK wholesale fuel was 137.25 pence a therm.