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Gas prices in Europe nearly triple in October, exceeding $1,000

Gas prices in Europe nearly triple in October, exceeding $1,000
# 31 October 2026 12:45 (UTC +04:00)

Natural gas prices in Europe nearly tripled in October, exceeding $1,000. This is the highest level recorded since the end of 2022, APA reports, citing data from London's ICE exchange.

The increase in gas prices is attributed to record-low reserves in Europe's underground gas storage facilities ahead of the upcoming winter season and the ongoing conflict in the Middle East.

According to the information, Russia accounted for approximately 40% of the European Union's gas imports before 2022. Currently, this figure has decreased to 8–15%.

 

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