BP profits double due to rising oil and gas prices amid cost of living crisis

BP has revealed its profits have more than doubled over the past quarter as gas and oil prices continue to soar amid Russia's invasion of Ukraine. The oil giant reported a huge profit from July to September due to high oil and gas prices. The oil giant reported that underlying replacement cost profits - a measure preferred by BP - had surged to £7.1bn ( $8.2bn) compared with £2.9bn ($3.3bn) a year earlier.The announcement has sparked renewed calls for a higher windfall tax on oil and gas giants as soaring energy prices continue to put pressure on the public.PA