Why Are Gas Prices So High 2024 Uk. Gas and electricity prices have risen by 10% in england, scotland and wales. European gas prices are now about 10 times higher than their average level over the past decade.
Wholesale gas prices increased significantly over the course of 2021 and 2022, initially as a result of the economy opening up after covid and later due to the lead up to invasion of ukraine and subsequent conflict. Natural gas prices are at record highs as economies around the world begin to recover from the covid crisis.