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Geneva: Energy prices in the world in August increased by 78% year-on-year, while gas prices rose by 250%, according to the World Trade Organization (WTO) , its fresh report released on Wednesday.
“The Ukraine crisis has pushed up prices for primary commodities, particularly fuels, food, and fertilizers… In August, energy prices were up 78% year-on-year, led by natural gas, which was up 250%,” the report said.
It is noted that the 36% increase in crude oil prices over the same period was small compared to other energy resources, but still significant for consumers.
