Over-65s hit hard by hikes in fuel prices

The amount spent by pensioners on their fuel bills has more than doubled since 2005 after a series of price hikes in recent years.

The amount spent by pensioners on their fuel bills has more than doubled since 2005 after a series of price hikes in recent years.

Over-65s in the UK spent £17.4 billion on electricity and gas bills last year, according to research by Saga.

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The figure would be even higher if it reflected the most recent price increases, which came into force over the closing weeks of the year.

The next rise, from Eon, will take effect next Friday, when the average dual fuel bill goes up by 8.7 per cent.

The average over-65s household spent £1,355.90 on fuel bills in 2012, up from £668.98 in 2005.

Dr Ros Altmann, Saga’s director general, said: “While incomes have increased in the last seven years, they have not kept pace with the rate that energy and fuel costs have risen, meaning that people are spending more of their income on fuel.

“This is especially true for older people, who are often on lump or fixed incomes or whose savings income has fallen.”

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