British Gas has announced it will reduce its standard tariff gas prices by 10% from 19 February.
It said the move would benefit more than 7.5 million homes and cut £84 from the average annual gas bill.
British Gas said it was the first UK major energy supplier to announce such a cut since 2007. Rivals are expected to follow suit.
In July 2008, British Gas raised its gas prices by a record 35%, while other firms lifted prices by more than 20%.
Whilst I welcome any cut in gas prices, it must be remembered that when crude oil was $150 a barrel my gas company raised its prices by 110%. Now crude oil is $44 a barrel, British Gas announces it is to cut prices by only 10%! The price needs to be cut by over 50%!
