British Gas has cut its standard gas prices by an average 7%. Also, the price cut, which would benefit 8 million households, takes effect immediately and makes British Gas, on average, the cheapest supplier of standard gas and electricity right across Britain, and the change would save the average gas customer £55 a year.
This is the third time British Gas has cut prices in the past 12 months, thereby cutting a total of £187 off the average annual dual fuel bill.
British Gas Managing Director, Phil Bentley, commented, "But, at British Gas, we know that cutting prices is just part of the picture in helping our customers cut their fuel bills; we're also doing more than any other supplier to help our customers use less energy. As well as cutting prices three times in the past year, we have been helping our customers improve their energy efficiency and cut their energy use by 7%."
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.