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Explained in plain English

Will global prices ever fall?

Global energy prices are influenced by many factors, including supply and demand, geopolitical events, and even weather. While prices can fluctuate, a sustained fall depends on stable supply, reduced global demand, and a shift towards cheaper, renewable energy sources. This would ease pressure on household bills like those Healey is addressing.

Stories that explain this

Healey's Budget: How £1bn will offer households 'breathing space'

Questions this opens up

Who sets the price of oil? How do energy companies buy gas? What is the UK's energy mix?

Related explainers

How will £1bn help my bills? Why are energy bills so high? Who pays for frozen fuel duty? Why can't the Treasury just borrow more? Who controls global oil prices? Who decides global oil prices? Global energy price impact Global energy prices

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