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Energy bills rise 'inescapable' if oil prices stay high, says British Gas boss

UK household energy bills could rise by £332 from July due to sustained high oil and gas prices amid geopolitical tensions, says consultancy Cornwall Insight.

  • British Gas boss says that if oil prices stay high, a rise in energy bills is 'inescapable'.
  • The boss stated that the closing of the Strait of Hormuz has caused a loss of around 20% of global oil supply and 3-4% of global gas supply.
  • The prime minister will hold an emergency meeting with senior ministers and the Bank of England governor to discuss measures to counter the potential impact of the war on the cost of living in the UK.
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Sky News UK broke the news in United Kingdom on Friday, March 20, 2026.
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