![\"Martin](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/03\/martin-itv10-2-6776673.jpg\" "\\"Martin")
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Martin Lewis has warned people to fix now (Image: ITVX)<\/p>\n
Money expert Martin Lewis is warning people to fix their energy bills now as the conflict in the Middle East is set to see prices rocket.<\/p>\n
Martin Lewis<\/a> took to Twitter on Tuesday morning to flag the latest in the rapidly developing situation between Iran, the US and the rest of the Middle East and the expected knock-on effect on gas and electricity<\/a> prices.<\/p>\n Martin<\/a> told his followers \u2018don\u2019t dawdle\u2019 if you\u2019re planning to fix, because firms are putting energy prices up today.<\/p>\n Right now, you can still get a fix for 14% less than the price cap, but it\u2019s not going to last, Martin warned.<\/p>\n He said: \u201cPlanning to imminently FIX your energy bill? Don’t dawdle. Firms are repricing upwards today & tomorrow on back of Iran. Cheapest still 14% under Price Cap but I doubt for long (it may rebound, but in v short term they’re up).\u201d<\/p>\n READ MORE: State pensioners get tax-free Personal Allowance boost to \u00a316,320 with HMRC rule <\/a><\/p>\n READ MORE: HMRC tax deadline on Tuesday with \u00a3125 extra charges to follow <\/a><\/p>\n Martin then pointed to a spike in gas prices which is set to push bills up, especially on new fixed rate tariffs. He added: \u201cThe spike in the gas price (a prime driver of UK electricity prices) due to the Iran conflict is substantial in the context of the last six months, but as the second image shows it isn’t a Ukraine<\/a> war type spike.<\/p>\n \u201cIn the short term its primary consumer energy bill impact will be to push up the price of new fixed rate energy tariffs. How much it impacts the (July onward) Price Cap is a function of how long it spikes for. If it’s short it will be minimal, if it’s longer then its likely to drive prices up from July.<\/p>\n \u201cThe other immediate domestic energy concern is the cost of domestic heating oil which has risen sharply.\u201d<\/p>\n *** Ensure our latest personal finance headlines always appear at the top of your Google Search by making us a Preferred Source. Click here to activate<\/a> or add us as Preferred Source in your Google search settings. ***<\/p>\n In another post, Martin added: ” The wholesale gas rate is spiking due to the Iran conflict, and it is a prime driver or UK elec prices. If that’s sustained (big if), it will likely push the Price Cap rate up from July – Some of the cheap fixes from before the weekend haven’t (yet) been pulled, so you can still lock in a rate at around 14% less than the current Price Cap, both saving you money and giving peace of mind that the rate can’t rise.<\/p>\n