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Will Rising Oil Prices Affect My Electricity Bill?

Flip a switch and it’s there for you – electricity is a core necessity in our lives and as a result, we often just pay our electric bill without much thought…until electricity tariff suddenly goes up without us knowing! The thing is, most of our household electric consumption tends to stay relatively constant over a long period of time and the moment we see an increase in our bill, blaming the retailers, electricity generators or even the government seems to be the knee-jerk reaction. However, that isn’t always true and there is a factor that dictates how high or low your electric bill will be: the oil price. Huh? What does the oil price have to do with our utility bill? Quite a lot in fact!

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