BP profits double as oil and gas prices soar 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.

The oil giant reported that underlying replacement cost profits jumped from £2.9bn a year to £7.1bn.

Rising prices have been attributed to Russia's invasion of Ukraine, making worse a severe cost-of-living crisis.

Renewed calls have been made for oil and gas giants to be handed a windfall tax to try and help bridge the gap for the public.

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