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MABUX ARA LNG Bunker Index
Port LNG$/mton MGO LS$/mton Date
ARA
1 289.00
0.00
1 220.00
-25.00
Aug 25
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Port	LNG$/mton	MGO LS$/mton	Date
ARA	1 289.00	0.00	1 220.00	-25.00	Aug 25

MABUX Global Bunker Index

380HSFO$/mton		VLS FO$/mton		MGO LS$/mton		Date
616.35	-12.82	769.05	-11.15	1 343.56	-16.24	Aug 26

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MABUX Market Differential Index (MDI)

Correlation between market bunker prices (MBP) and MABUX Digital Bunker Price Benchmark (DBP)

All Indexes in $/mton	380HSFO			VLS FO			MGO LS			Date
All Indexes in $/mton	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	MBP Index	DBP Index	MDI	Date
Rotterdam	535	624	-89	655	699	-44	1 245	1 395	-150	Aug 26
Singapore	645	647	-2	800	790	+10	1 196	1 388	-192	Aug 26
Fujairah	635	597	+38	795	732	+63	1 391	1 451	-60	Aug 26
Houston	472	615	-143	690	712	-22	1 252	1 347	-95	Aug 26

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Analytical Section
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Latest News
- 2026-08-27
  Oil prices extend losses on expectations talks to ease Middle East supply woes
  Oil prices fell on Thursday, extending a streak of multiple days of losses, on expectations talks between Iran and Qatar may open the key Strait of Hormuz and reduce supply disruptions from the Middle East war. Brent crude futures were down 60 cents,... Read more Oil prices fell on Thursday, extending a streak of multiple days of losses, on expectations talks between Iran and Qatar may open the key Strait of Hormuz and reduce supply disruptions from the Middle East war.
  
  Brent crude futures were down 60 cents, or 0.7%, to $87.24 a barrel by 0004 GMT, down for a fourth day. West Texas Intermediate crude futures fell 56 cents, or 0.7%, at $81.67, down for a fifth day.
  
  Iran and Oman are working on finalizing details of an agreement to control the Strait of Hormuz, a senior Iranian source said on Wednesday, after Iran’s Revolutionary Guards said the two countries had agreed how to share the waterway that connects major Gulf oil producers to markets and its revenues.
  
  The strait carried oil and natural gas shipments equal to about one-fifth of global consumption of the fuels before the U.S.-Israeli war on Iran started on February 28. Since Iran worked to shut the waterway in response, oil flows have dropped to about one-quarter of their pre-war level, according to ship-tracking data.
  
  "Crude oil edged lower as the prospect of the Strait of Hormuz reopening improved amid ongoing talks," said Daniel Hynes, senior commodity strategist at ANZ, in a note on Thursday, though he cautioned "concerns over shortages in the oil market persist."
  
  Qatar’s prime minister will head to Iran on Thursday to relaunch diplomatic talks to end the conflict which is nearly six months old.
  
  The U.S. has halted its attacks on Iran for about a month and is seeking to impose greater economic pressure on Iran, which has raised investors’ expectations for an easing of the Gulf supply disruptions.
  
  Still, the countries are far apart on their demands to end the fighting and Iran has struck shipping in the Gulf and strait to impose its control on the waterway.
  
  Iranian officials have also said the strait would not open unless the U.S. met Tehran’s conditions under an interim ceasefire agreement that was struck in June and later unraveled.
  
  ANZ’s Hynes also pointed to the impact the Middle East war and the Russia-Ukraine war is having on the diesel market. Middle East refineries have been damaged in that conflict and Ukraine has hit several Russian refineries, cutting exports from what was a major global diesel supplier.
  
  The curtailment in worldwide diesel output is showing up in inventory data. The U.S. Energy Information Administration reported on Wednesday said distillate stockpiles, including diesel and heating oil, dropped by 2.2 million barrels in the week to August 21 to 103.4 million barrels.
  
  Hynes said this is the lowest distillate stockpile level ever recorded for this time of year. Source: Reuters/Investing.com
- 2026-08-27
  Global Oil Security Looks Shakier as Conflicts Hit 45 Million Bpd of Supply
  Almost half of the world’s oil supply is produced in regions currently engaged in hot conflicts, Reuters reported this week. The situation raises questions about long-term oil supply security and the limits to diversification. The Middle East, of course,... Read more Almost half of the world’s oil supply is produced in regions currently engaged in hot conflicts, Reuters reported this week. The situation raises questions about long-term oil supply security and the limits to diversification.
  
  The Middle East, of course, is the most obvious and most disruptive example. While oil prices on speculative markets have remained capped by trader optimism, the physical supply of the vital energy commodity has been severely compromised, leading to rationing and emergency releases from storage across the world.
  
  Meanwhile, Ukraine is pursuing a campaign of bombing Russian refineries with drones in a bid to persuade Moscow to make concessions regarding their conflict. So far, this has not happened, but the drone attacks have resulted in fuel shortages that have sent a ripple effect beyond the Russian borders because the country was the world’s second-largest fuel exporter after the United States.
  
  The Gulf states, by the way, were also, together, large exporters of refined fuels, which is why many analysts are now warning that the crisis in fuels is the one that needs to be addressed, not the situation in crude oil. Addressing it, however, would be quite difficult because the world’s refining capacity has shrunk considerably over the past decade or so, specifically in Europe, which is now struggling with the consequences of those developments, with diesel prices 70% higher than they were in February due to the continent’s dependence on imported fuels.
  Related: Natural Gas, Not Oil, Is Key Inflation Concern in Europe
  
  Over the past couple of months, the Middle Eastern conflict has also expanded, as it tends to happen in the region, with another major oil chokepoint under threat from attacks by the Yemeni Houthis. Indeed, attacks have already taken place, forcing shippers to re-route to alternative channels, such as the Suez Canal. This means longer journeys for tankers, which adds costs to the final price of the cargo, on top of the war premium already crushing demand in poorer countries.
  
  The latest reports from the Middle East once again pushed oil prices lower, saying that Iran and Oman were discussing joint management of the Strait of Hormuz. The discussions were perceived as a sign the waterway could be reopened soon, despite Iran’s threat to not let a drop of oil out of the Persian Gulf if the U.S. went forward with its latest idea of pressuring Iran economically, with more sanctions.
  
  Developments in Russia and Ukraine are no more optimistic. Ukrainian forces continue striking refineries on a daily basis, and while repairs have already brought back several facilities online, repairs take time, during which time fuel supply is constrained—and the ban on gasoline and diesel exports is still very much in place.
  
  All these events have increased the world’s reliance on U.S. crude and refined fuels, with the latter dependent on heavy crude supply from Canada and Venezuela. Now, this heavy crude supply may move lower.
  
  In September, Canadian crude oil production may drop by 300,000 barrels daily due to maintenance activities in the oil sands, Rystad Energy said this week. Usually, whenever such a seasonal disruption occurs, it gets offset with crude from storage. Unfortunately, crude in storage is also lower than usual—the lowest in 12 months, per the report. And maintenance cannot be skipped.
  
  Meanwhile, Venezuela’s oil exports are falling—moderately but enough to cause concern in those of a wary nature due to the reason for the fall. The July daily average stood at 1.16 million barrels, down from 1.2 million barrels in June. The reason, as reported by Reuters, was lower withdrawals from storage. This means that Venezuela was not exporting more crude because it was producing more but because it was withdrawing it from inventories. As these decline, so would exports until PDVSA and its new/old partners from the United States and Europe manage to speed up the production expansion.
  
  According to Reuters, the countries involved in all these conflicts—and that includes Venezuela—last year produced 43% of the world’s oil, or 45 million barrels daily. Now, supply from the Middle East is down by between 5 and 7 million barrels daily, according to various analyst estimates, and global refining capacity is down by 10% because of the wars in the Middle East and Ukraine.
  
  The effects are already trickling in. Inflation is rising everywhere, and in the United States it contributed to yet another increase in debt to an all-time high of $40 trillion. Elsewhere, the effects of the energy crisis are fueling a race for securing alternative oil—and other energy—supply. The race has so far produced ideas for several pipelines, a renewed appetite for solar power, and higher EV sales in Europe, which may be struggling financially but will always have money for EV subsidies.
  
  How long the current state of affairs will continue is hard to say. The war that the U.S. and Israel launched against Iran on February 28 was supposed to last a few weeks. But then, Iran was not supposed to shut down the Strait of Hormuz. However long the current disruption lasts, the world will inevitably adjust. The problem is that this adjustment will be painful. Source: Oilprice.com
- 2026-08-27
  Oil Drops as Tankers Begin Moving More Gulf Crude
  Brent crude futures dropped for a third session as Iran and Oman advanced plans for a temporary maritime corridor through the Strait of Hormuz. Brent tumbled to $85 a barrel early Wednesday, down more than 9% for the week, while West Texas Intermediate... Read more Brent crude futures dropped for a third session as Iran and Oman advanced plans for a temporary maritime corridor through the Strait of Hormuz.
  
  Brent tumbled to $85 a barrel early Wednesday, down more than 9% for the week, while West Texas Intermediate traded around $80. Crude remains up more than 41% this year following the US-Iran conflict and ongoing disruptions at the Hormuz chokepoint.
  
  Earlier, Oman's state news agency reported that Iranian Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr Albusaidi discussed an "interim framework" establishing a temporary joint shipping corridor.
  
  Iranian Deputy Foreign Minister Kazem Gharibabadi said both countries agreed on a temporary route and intend to negotiate a permanent corridor within 30 to 60 days, according to Tasnim. No timeline has been given for when the temporary deal to reopen the critical waterway would begin.
  
  Talk of an interim deal comes as oil loadings from Iraq's Persian Gulf export terminals surged at the beginning of the week, offering one of the clearest signals yet that regional Gulf producers expect Hormuz tensions to dissipate.
  
  Satellite imagery showed seven tankers collecting Iraqi cargoes, with a combined carrying capacity of roughly 13 million barrels, according to Bloomberg.
  
  Maritime research firm TankerTrackers also reported on X, saying, "A busy day in the Gulf of Oman, where there are at least fifteen sets of STS transfer sessions taking place. We count 25 million barrels of crude oil; plus some refined products. The oil originates from almost every country in the region, minus Iran."
  
  "It seems crude is now beginning to price in a sooner rather than later peace deal," said Dennis Kissler, senior vice president for trading at BOK Financial Securities, who Bloomberg quoted.
  
  Kissler noted, "With some oil still getting through the strait, Iran and the US are more likely to be in a newer state of de-escalation as both sides are looking for an off-ramp."
  
  By now, readers know that the energy crisis is not necessarily about crude, but rather refined products, as diesel crack spreads in the US topped $100 a barrel. The good news is that, by midweek, the spread was trading around $88.
  
  Last week, veteran commodities strategist Jeff Currie detailed on X that the next commodities bull market was poised for another leg higher (read note).
  
  The latest developments in the Gulf are promising signals, but an interim framework should not be mistaken for a durable normalization of regional tanker transits through the maritime chokepoint. Previous de-escalation efforts have repeatedly broken down, often returning the region to drone attacks on tankers and short-lived military tit-for-tat bombing campaigns. Until a permanent and enforceable shipping deal is set in stone, the Hormuz risk premium is likely to remain embedded across crude and refined-product markets. Source: Oilprice.com
- 2026-08-27
  MABUX: Global bunker market to extend downward trend on Aug. 27 amid anticipated progress in diplomatic efforts to reopen the St
  The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – continued its downward trajectory on Aug. 26 for the third consecutive session: 380 HSFO: USD/MT: 616.35 (-12.82) VLSFO: USD/MT: 769.05 (-11.15) MGO:... Read more The MABUX World Bunker Index — a composite benchmark reflecting daily prices for 380 HSFO, VLSFO, and MGO – continued its downward trajectory on Aug. 26 for the third consecutive session:
  
  380 HSFO: USD/MT: 616.35 (-12.82)
  VLSFO: USD/MT: 769.05 (-11.15)
  MGO: USD/MT: 1 343.56 (-16.24)
  
  As of Aug. 26, the MABUX Market Differential Index (MDI), which tracks the spread between Market Bunker Prices (MBP) and the MABUX Digital Bunker Benchmark (DBP), showed the following trends across the four major global bunkering hubs—Rotterdam, Singapore, Fujairah, and Houston:
  
  • HSFO segment: Fujairah remained the only overcharged port, with its premium widening by another $15. The other three hubs stayed in the undercharge zone. MDI discounts narrowed by $2 in Rotterdam, $5 in Singapore and $4 in Houston. Houston's underpricing remained above the $100 mark, while Singapore moved closer to full correlation between MBP and DBP.
  
  • VLSFO segment: Singaopore shifted into the overcharge zone, joining Fujairah, with premiums increasing by $14 and $22, respectively. Rotterdam and Houston were undercharged, with MDI narrowing further by $9 and $8, respectively.
  
  • MGO LS segment: All four ports remained undercharged. MDI discounts increased by $8 in Rotterdam and $12 in Singapore, while decreasing by $2 in both Fujairah and Houston. Underpricing in Rotterdam and Singapore remained above the $100 mark.
  
  MABUX expects the Global bunker market to extend its downward trend on Aug. 27, supported by expectations of further diplomatic progress toward reopening the Strait of Hormuz: 380 HSFO: minus 2-5 USD/MT, VLSFO: minus 2-5 USD/MT, MGO LS: minus 3–7 USD/MT.
  Source: MABUX
- 2026-08-27
  U.S. Crude Stocks Barely Budge as Gasoline Inventories Fall
  Crude oil inventories in the United States saw an increase of 100,000 barrels during the week ending August 21, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles... Read more Crude oil inventories in the United States saw an increase of 100,000 barrels during the week ending August 21, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 428.9 million barrels, according to government data, which are now 1% above the five-year average for this time of year.
  
  The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories had risen by 4.2 million barrels in the period.
  
  Crude futures were trading down at 9:49 a.m. in New York, Brent futures were trading at $86.94 per barrel—down $1.58 (-1.78%) on the day and down nearly $5 per barrel from this same time last week. WTI was also trading down on the day, by $1.22 per barrel (-1.48%) on Wednesday morning at $81.14, down more than $4 per barrel since this time last week.
  
  For total motor gasoline, the EIA reported that inventories decreased by 2.5 million barrels, after rising by 700,000 barrels in the week prior. The most recent figures showed that average daily gasoline production increased to 9.8 million barrels. For middle distillates, inventories increased by 2.2 million barrels with production decreasing to an average of 5.1 million barrels daily. Distillate inventories are now 14% below the five-year average.
  
  Total products supplied—a proxy for U.S. oil demand—averaged 20.5 million barrels per day over the last four weeks, down 3.0% compared to the same period last year. Gasoline demand averaged 8.9 million barrels per day over the last four weeks, while the distillate four-week average supplied averaged 3.8 million barrels—down 2.2% year over year. Source: Oilprice.com
- 2026-08-27
  CNOOC Posts Record Profit as China Pumps More Oil at Home
  China’s push to squeeze more oil and gas from home is paying off just as imported energy becomes more geopolitically complicated. CNOOC posted record first-half profit and production on Wednesday, helped by higher oil prices following the Iran war... Read more China’s push to squeeze more oil and gas from home is paying off just as imported energy becomes more geopolitically complicated.
  
  CNOOC posted record first-half profit and production on Wednesday, helped by higher oil prices following the Iran war and continued growth from its offshore fields.
  
  Net profit attributable to shareholders jumped 23.4% from a year earlier to 85.8 billion yuan, or about $12.9 billion. Oil and gas sales revenue climbed 20% to 206.1 billion yuan.
  
  The biggest boost came from crude prices. CNOOC’s average realized oil price rose 23.6% to $85.49 per barrel during the first six months of the year, while its realized natural gas price increased just 1.3%. But it was selling more of it too.
  
  Net oil and gas production rose 3.7% to a record 398.7 million barrels of oil equivalent, including 275.2 million boe produced in China. Crude oil and liquids output climbed 4.8% to 310.3 million barrels.
  
  Beijing has spent years pushing its state oil companies to increase domestic production and reduce China’s exposure to imported energy. That strategy has taken on new urgency since the Iran war disrupted traffic through the Strait of Hormuz, one of China’s most important oil-supply routes.
  
  Full production began in May at CNOOC’s first phase of the Kenli 10-2 development in the Bohai Sea, and it’s now producing more than 20,500 barrels per day.
  
  The company made another four discoveries during the first half and appraised 16 oil- and gas-bearing structures. It also added three exploration blocks in Brazil and Indonesia, including its first operated position in Brazil’s Santos Basin pre-salt.
  
  Costs did rise, with CNOOC’s all-in cost reaching $29.70 per boe. But with realized oil prices above $85, there was plenty of room left.
  
  CNOOC maintained its 2026 production target of 780 million to 800 million boe and its capital spending guidance of 112 billion to 122 billion yuan.
  
  So while China reaps the benefits of increased energy security, CNOOC shareholders are raking in the cash. Source: Oilprice.com
- 2026-08-27
  The Netherlands to Miss Natural Gas Filling Target for Winter
  The Netherlands will miss its target to fill natural gas storage sites ahead of the winter, its gas network operators said on Wednesday, in one of the first evidence-based signs that Europe may be struggling to have sufficient supply for a harsh winter. Gasunie,... Read more The Netherlands will miss its target to fill natural gas storage sites ahead of the winter, its gas network operators said on Wednesday, in one of the first evidence-based signs that Europe may be struggling to have sufficient supply for a harsh winter.
  
  Gasunie, the Dutch gas network operator, on Wednesday warned that the country will miss its target to have 115 terawatt-hours (TWh) worth of gas supply.
  
  In response to recent media reports about the state of the storage filling, Gasunie said that “based on the latest developments, the Netherlands will no longer meet the previously set filling target for this winter (115 TWh) – which is approximately half of Dutch gas consumption.”
  
  The filling target proposed by Gasunie Transport Services (GTS) – a wholly owned subsidiary of Gasunie – was established based on the amount of gas required during the harshest winter of the past 30 years.
  
  Despite the target being no longer achievable, the operator said that this doesn’t necessarily mean that the Netherlands would not have enough gas supply for the winter or that security of supply is at risk.
  
  “This situation does mean that, without additional policy, the Netherlands is insufficiently prepared for a scenario in which the winter would be one of the harshest,” Gasunie said.
  
  The gas network operator is currently studying how to keep gas supply as high as possible in the dramatically changed geopolitical situation and market conditions in the past half year, and prevent further upward pressure on the gas market and prices.
  
  Across Europe, current inventory levels are at the lowest in 17 years, and supply available for purchase is tighter than it was ahead of the 2022/2023 winter, as Qatar’s LNG flows are now mostly cut off by the Strait of Hormuz crisis.
  
  EU gas storage levels at 63% full right now are below the 5-year average of 80% and also lower than the nearly 76% at this time last year.
  
  “At the current rate, it will be difficult for the EU to hit even the lower storage target of 75% ahead of the heating season. This raises the prospects of forced buying, increasing upside risk for gas prices,” ING’s commodities strategists Warren Patterson and Ewa Manthey wrote in a note this week.
  
  Source: Oilprice.com
- 2026-08-27
  Natural Gas, Not Oil, Is Key Inflation Concern in Europe
  Soaring energy prices have rekindled inflation fears in Europe since the Iran war disrupted oil and gas flows, but policy makers and bond markets appear to be more concerned about the jump in natural gas prices rather than the increase in crude oil futures. European... Read more Soaring energy prices have rekindled inflation fears in Europe since the Iran war disrupted oil and gas flows, but policy makers and bond markets appear to be more concerned about the jump in natural gas prices rather than the increase in crude oil futures.
  
  European benchmark natural gas prices have hit a five-month high in recent days, as Europe scrambles for LNG supply to fill gas storage sites ahead of the winter.
  
  Since the Middle East crisis began, Europe has started losing the competition with Asia for spot LNG supply amid spiking prices in the absence of most Qatari LNG term volumes.
  
  The Iran war and the intensified competition from Asia came just as Europe is trying to build in the spring and summer natural gas inventories for the next winter.
  
  Current storage levels are about 63% full, data from Gas Infrastructure Europe shows. That’s the lowest level for this time of year in nearly two decades and well below the five-year average.
  
  The spiking gas prices threaten to raise inflation further and prompt interest rate hikes beyond current expectations. In the European bond markets, yields on the key UK and German bonds have surged to multi-decade highs amid fears of stubborn inflation due to the spike in natural gas prices.
  
  “Natural gas prices have taken over as the key driver of yields,” Jamie Searle, European rates strategist at Citigroup, told Bloomberg.
  
  According to Emma Moriarty, portfolio manager at CG Asset Management, “The natural gas price is more relevant to the UK and Europe and never really recovered in any of the ceasefires and continues to leg higher.”
  
  Meanwhile, higher energy prices boosted inflation in both the UK and the Eurozone, with the July prices accelerating from the previous month and jumping from a year earlier.
  
  The European Central Bank (ECB), which in June raised key interest rates for the euro area for the first time since 2023, is overwhelmingly expected to announce another hike in September, but stop the rate increases there. Source: Oilprice.com
- 2026-08-27
  India’s ONGC Targets Tenfold Oil Output Boost in Venezuela
  India’s state-owned Oil and Natural Gas Corporation (ONGC) plans to invest about $200 million to revive production at the San Cristobal oilfield in Venezuela, which it shares with Venezuelan state oil firm PDVSA, Indian outlet Economic Times reported... Read more India’s state-owned Oil and Natural Gas Corporation (ONGC) plans to invest about $200 million to revive production at the San Cristobal oilfield in Venezuela, which it shares with Venezuelan state oil firm PDVSA, Indian outlet Economic Times reported on Wednesday, citing sources with knowledge of the development.
  
  ONGC’s overseas unit ONGC Videsh Ltd (OVL) holds stakes in some Venezuelan oil projects, including a 40% interest in the San Cristobal oilfield, in which PDVSA owns the remaining 60%.
  
  Earlier this month, ONGC secured a license from the U.S. Office of Foreign Assets Control (OFAC) to return to Venezuela.
  
  India’s largest oil and gas company has a 40% stake in the San Cristobal oil project and an 11% stake in the Carabobo project but has been forced to curb activity significantly amid a barrage of U.S. sanctions on the South American country in recent years.
  
  Now that the license has been secured, ONGC plans to develop the oilfield. The $200-million budget for reviving production at San Cristobal in the Orinoco Belt would be given the green light once the Indian firm and PDVSA sign an agreement on an investment plan.
  
  The companies are close to finalizing said plan, according to ET’s sources.
  
  The Indian firm will also cover PDVSA’s share of investment with the $200 million, and will recoup it through future production from the San Cristobal oilfield, the sources added.
  
  ONGC’s investment over the next 12 months is aimed at boosting output at San Cristobal tenfold in the coming years.
  
  The oilfield currently produces around 4,000-5,000 barrels per day (bpd) of crude oil. ONGC aims to ultimately restore output to the previous peak of up to 50,000 bpd, ET’s sources said. This level was achieved years ago, before the U.S. sanctions, years of mismanagement, and a lack of investment crippled production in the world’s biggest holder of crude oil reserves. Source: Oilprice.com
- 2026-08-27
  UK Energy Bills to Hit Three-Year High as Gas Prices Surge
  UK energy bills are set for a three-year high at the beginning of the winter, as higher gas prices due to the Iran war have prompted the energy regulator to raise the energy price cap on household costs by 4% for October through December. The UK energy... Read more UK energy bills are set for a three-year high at the beginning of the winter, as higher gas prices due to the Iran war have prompted the energy regulator to raise the energy price cap on household costs by 4% for October through December.
  
  The UK energy regulator Ofgem on Wednesday published its quarterly energy price cap decision, announcing a 4% increase in the cap for the period between October 1 and December 31, 2026.
  
  The UK has a so-called Energy Price Cap in place, which protects households from excessively high bills by capping the price that energy utility providers can pass on to them. The price cap is a limit on what suppliers can charge domestic consumers per kilowatt hour of energy used.
  
  UK energy bills have already jumped by 13% between July 1 and September 30, 2026, under the price cap that Ofgem set in May, as a result of higher wholesale gas prices amid the Middle East crisis.
  
  The latest increase in the price cap was widely expected by analysts, with Cornwall Insight predicting last week that Ofgem would raise the energy price cap by 4%.
  
  In its announcement on Wednesday, the UK energy regulator said that “This increase reflects higher wholesale gas prices as a result of the ongoing conflict in the Middle East, with volatile global gas markets remaining the dominant driver of price changes.”
  
  “High international gas prices are continuing to drive energy costs in the UK,” said Neil Kenward, Ofgem’s Director General for Markets.
  
  The current price cap for a typical household paying by direct debit for gas and electricity is £1,663, or $2,268.
  
  Based on the energy use of a typical domestic household, from October, the price cap will rise by £60 per year (or £5 per month) to £1,723, or $2,350 for the average household using both electricity and gas if this level were sustained for a year, Ofgem said. Source: Oilprice.com

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