UK: Gas, electricity prices rise by record 1-day amount as oil cost hits all-tim

Oil, gas and electricity prices hit fresh records yesterday, raising fears that the global economy is becoming “destabilised”

At one stage, the price of a barrel of oil topped $117, leading to record one-day increases in the wholesale cost of gas and electricity.

These increases will be passed on to consumers, piling more pressure on families already struggling with soaring utility and food bills.