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British Gas has announced that it is to increase the rate of its tracker tariffs.
Electricity rates are to rise by 15 per cent, while gas is expected to climb by 13 per cent and those on the dual fuel tracker will experience a 14 per cent increase, the Press Association reports.
The company claims that spiralling oil costs are the cause of the increase.
Alan McLaughlin, a spokesperson for British Gas, said: "Record oil prices have continued to drive up wholesale gas prices.
"Since the Market Tracker launched in July 2007 wholesale gas prices have increased by 104 per cent."
In addition, chief executive of E.ON Paul Golby told reporters recently that throughout the coming months and years, "pressure on retail prices is going to be upwards".
Meanwhile, Ian Marchant, chief executive of Scottish & Southern Energy, claimed that the industry cannot defy the rise in wholesale costs.
According to CNNMoney, the average price of gas has increased by 57.3 per cent in the UK since the beginning of 2008.
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