Help me with something, dear readers. UK retail gas prices are going up by 20%, apparently because of a hike in wholesale prices caused by turmoil in Libya and demand in Asia. Yet when I look at this chart of US prices, I see no sign of any recent hike worth the mentioning.
Is this because the UK wholesale market is very different? Where can I find a graph of UK wholesale prices? Is some other factor other than supply and demand involved?
I find it hard to equate the vast new supplies coming on line from shale gas deposits with the prices hikes we are seeing.