US media: Middle East war has driven gas prices in Europe up by almost a third

The Middle East war has driven up gas prices in Europe by almost a third, with prices now around 30 percent higher than before the fighting began.

This is reported by Bloomberg.

The figure shown represents today's price hike. Prior to this, on February 28, the price of LNG on the European market increased by 92 percent.

As an illustration, US media outlets cite data provided by Sebastian Bray, head of chemical industry research at Berenberg. According to him, following the rise in energy prices, European chemical producers will pay an additional three billion euros for natural gas alone.

The gas supply situation in Europe is exacerbated by the fact that gas storage facilities were almost completely depleted over the winter. Although the global LNG market is not as dependent on supplies from the Persian Gulf through the Strait of Hormuz as oil, the absence of LNG carriers from Qatar has had a significant impact on rising global gas prices. The reduction in LNG supplies exacerbates the shortage and competition between consumers in Europe and Asia.

To assess the impact of the Middle East crisis on Europe's energy security, a meeting of the EU's oil and gas supply coordination task forces is scheduled for March 12.

Regarding the oil market, prices have reached a 14-year high, and they've exceeded $100 for the first time since 2022.

Comments

[Andrey K]

US media: Middle East war has driven gas prices in Europe up by almost a third

Inspired by this from "Our Russia" by Ludwig Aristarkhovich:
- What? Someone took a dump on the children's slide! Up there, where the kids slide! Ouch! Who... who did it? I wanted to ask you! ... - They took a dump, I almost stepped on it! - But they're no gift either, of course. Your kids are walking around, trampling around in my front door...
Mattresses seem to have nothing to do with the price increase.

[Vadim Topal Pasha]

But how oil stocks were rising on the MICEX this morning... I felt like such a patriot when my capital grew 5% this morning... :)

[Vadim S]

Winter is ending, they'll survive without gas, and then they'll figure out something, if there's anything left, than to think

[IVZ]

Is gas really only needed for heating homes? Half of Europe's housing stock has no heating at all. Isn't it needed for energy, pharmaceuticals, chemical industries, and so on?

[topol717]

Quote: Vadim S

Winter is ending, they'll survive without gas, and then they'll figure out something, if there's anything left, than to think

It's not about heating, which half of Europe already lives without. Gas is used in the chemical and metallurgical industries, and there's no substitute for it there. Even a gas turbine at a power plant can't be powered by coal or fuel oil. Although coal-fired thermal power plants and combined heat and power plants may be reopened, if they haven't been demolished yet.

[expert]

Colleagues, hello everyone!
Below I've attached today's diesel prices in Frankfurt am Main...

[guest]

Quote: Fachmann

Below I've attached today's diesel prices in Frankfurt am Main...

I heard that diesel there has already surpassed even gasoline in price.

[expert]

Yes, that's right. Below is the price of Super gasoline.
I chose the cheapest gas stations...

[guest]

But once upon a time it was the other way around, diesel was much cheaper than gasoline.

[Vasilenko Vladimir]

Quote: guest

But once upon a time it was the other way around, diesel was much cheaper than gasoline.

Grandma remembered how she was a girl!!!

[dmi.pris1]

Half the population there relies on electric traction...Something like that.

[expert]

Not certainly in that way.
In 2025, the number of fully electric passenger cars in Germany was: ~3,3%
Hybrids: ~7,2%
Gasoline: ~60,6%
Diesel: ~28%

[Vasilenko Vladimir]

Quote: guest

I heard that diesel there has already surpassed even gasoline in price.

And here it's much more expensive than gasoline.

[sdivt]

Quote: guest

Diesel has already surpassed even gasoline in price.

So diesel fuel has become more expensive than gasoline in Russia, and has been for a long time now
I can't even remember when it was cheaper... except maybe during the Soviet period.
As of today, at our network gas station (Smolensk region, Rosneft):
AI-92 - 62,95
AI-95 - 67,40
AI-95+ - 69,95
DT - 74,45

ps
I looked it up on the internet and it turns out that diesel has overtaken gasoline since about 2012!
The Internet is a good thing) it knows everything)

[lis-ik]

Quote: guest

Quote: Fachmann

Below I've attached today's diesel prices in Frankfurt am Main...

I heard that diesel there has already surpassed even gasoline in price.

Here diesel has been more expensive than gasoline for a long time now.

[guest]

Quote: lis-ik

Here diesel has been more expensive than gasoline for a long time now.

Well, we're talking about the West here, where diesel cars were very popular for a while precisely because of the relatively low price of diesel compared to gasoline.

[Brturin]

Quote: Fachmann

diesel prices

Diesel isn't just diesel... they'll make it to sowing time... or they'll switch to crickets and the like. And to get all sorts of bioethanol, you first need to sow wheat or beets, and then... diesel

[Dedok]

Below I've attached today's diesel prices in Frankfurt am Main...

this, from 1.70 on average to 2,10...
hmm

[expert]

Before the price hike, I filled up for 1,64 euros per liter. Lucky me...

[Mouse]

The States have stirred up trouble, let them cover the costs... But as always, they will wash their hands of it.
... The EU will have to deal with the mess itself...

[Sergey Aleksandrovich]

The Europeans are swindlers and pirates. Gas tankers don't want to go to them, they've turned to Asian markets. In Europe, they'll face an environmental tax; they're fools, and they won't pay for their whims.

[Dart2027]

It now costs about 30 percent more than it did before the fighting began.

It's not enough. Although the process is just beginning.

[topol717]

Quote: Dart2027

It's not enough. Although the process is just beginning.

In fact, gas has gone up in price by almost 100%, it was 360-400 now it’s 720-750

[Dart2027]

Quote from: topol717

In fact, gas prices have increased by almost 100%.

Then that's already good.

[Sergey Aleksandrovich]

In theory, it's the US that should be helping Europe out now. After all, Trump secured duty-free imports of its liquefied natural gas. But the price is also an issue.

[Dart2027]

Quote: Sergey Alexandrovich

But the question is also about the price.

For some reason it seems to me that the price will be “democratic”.

[Alexey Sommer]

US media: Middle East war has driven gas prices in Europe up by almost a third

In fact, since February 27th, its price has more than doubled, from $400 to $830 per 1000 m3.

[Vasyan1971]

To assess the impact of the Middle East crisis on Europe's energy security, a meeting of the EU's oil and gas supply coordination task forces is scheduled for March 12.

What a surprise! Who would have thought of this when they were shouting "Get him!"

[alexputnik17]

The Middle East war has increased gas prices in Europe by almost a third. It is now approximately 30 percent higher than before the fighting began.

What does this mean? That the subsequent processing chains and the production of energy-based products will, one way or another, become exponentially more expensive. Later, exponentially more expensive.
The Baltics will emerge from among the most powerful economies.

[tralflot1832]

I remember how Europe mocked Gazprom. "We don't want long-term contracts, we want short-term contracts. We don't want short-term contracts, we want the daily market price. If it's daily, then so be it. Only the highest bidder will get gas. US gas tankers have bypassed Europe. No politics, just business. Trump doesn't control gas; he doesn't have that kind of authority."

[andrey martov]

As always, the American media lie without a trace and don't blush, as prices in Europe have risen not by a third, but several times! But that's not enough! Iran is firing missiles at the Gulf sheikdoms, and Europe is getting burned.

[tralflot1832]

Quote: Fachmann

Yes, that's right. Below is the price of Super gasoline.
I chose the cheapest gas stations...

Blood from the eyes, 1997-98 1,4 DM on the way from Bremenhaffen on the autobahn. But I’m not exactly sure, maybe a little cheaper.

[expert]

I was in what was then West Berlin in 1989. Diesel cost 56 pfennigs per liter!

[snow mountain]

So how can they not have democratic gas? And it's still bad?

[Hey]

Gas prices have always been calculated based on the price of oil.

[Zenn]

I hope our leadership has the resolve to provide all possible assistance to Iran, at least for mercenary reasons, so that gas for Europe remains available for as long as possible at $500-$1000 per 1000 cubic meters. Or will we hear more talk of multipolarity and the spirit of Anchorage?