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Oil was the most expensive fossil fuel bought by major power producers in the United Kingdom, at 5.87 pence per kilowatt-hour in the second quarter of 2024. Nonetheless, oil had a nine percent decrease compared to the same quarter a year prior. The average price of oil peaked in the third quarter of 2022, at 10.18 pence per kilowatt-hour. By comparison, at that same time, coal was the cheapest fuel, at 1.35 pence per kilowatt-hour.