The weekend of the 17th and 18th of April saw slight increases in both natural gas and electricity wholesale prices. As is always the case, this increase is related to a number of issues, and not just one single factor. In this case the increases can be accredited to, amongst other things, an upward correction of many European markets and the 'bulk buying' of many contracts during the recent low markets; the extra purchasing creating an increase in activity, pushing prices up.

The good news is that the crude oil prices have dropped slightly over the same period, lessening the impact and we're still witnessing market levels akin to those of 2007. It’s about time fuel at the pumps started coming down too but this will depend on how the pound compares to the dollar in future. At the moment the pound is weaker than when levels at the pumps were similarly high in July 2008. If it weren’t for the weak pound, prices would be much lower. On the other hand, if crude oil prices rose to the levels of July 2008, fuel prices at the pumps would be considerably higher!

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