Gas in Ukraine is getting more expensive for the fourth month in a row
Date: 2024-09-06 Author: Nazar Litvin Categories: ECONOMY
Thus, gas has been getting more expensive for the fourth month after the price has been falling for six months in a row. Gas is more expensive than in August last year (UAH 12,500).
Prices in Europe
Gas prices in Europe are currently at $415 per thousand cubic meters (UAH 17,000). In recent days, prices have begun to decline. Increased imports of liquefied natural gas and record fuel reserves have helped allay some concerns about supplies. In August, they rose to their highest since December after the transfer of the Sudzha gas metering station to the Kursk region under the control of Ukraine.
As noted by the NBU, gas prices in Europe grew under the influence of the escalation of geopolitical conflicts amid high demand from Asian countries and a reduction in supplies from Norway as a result of technical work. At the same time, a fairly high level of gas reserves in Europe (91.6% of storage capacity) and relatively weak demand kept prices from growing more rapidly.
Price forecast
The NBU expects that natural gas prices on the European market, despite continued high volatility, will gradually decline.
The NBU predicts that in 2024 prices will fall by 23.8% to $354.6 per thousand cubic meters, in 2025 they will grow by 8.5% to $384.7, and in 2026 they will fall by 12.5% to $336.5.
Prices in Europe
Gas prices in Europe are currently at $415 per thousand cubic meters (UAH 17,000). In recent days, prices have begun to decline. Increased imports of liquefied natural gas and record fuel reserves have helped allay some concerns about supplies. In August, they rose to their highest since December after the transfer of the Sudzha gas metering station to the Kursk region under the control of Ukraine.
As noted by the NBU, gas prices in Europe grew under the influence of the escalation of geopolitical conflicts amid high demand from Asian countries and a reduction in supplies from Norway as a result of technical work. At the same time, a fairly high level of gas reserves in Europe (91.6% of storage capacity) and relatively weak demand kept prices from growing more rapidly.
Price forecast
The NBU expects that natural gas prices on the European market, despite continued high volatility, will gradually decline.
The NBU predicts that in 2024 prices will fall by 23.8% to $354.6 per thousand cubic meters, in 2025 they will grow by 8.5% to $384.7, and in 2026 they will fall by 12.5% to $336.5.
