Average Gas Prices in Europe Reached Highest Level Since November 2023 in October

According to calculations based on statistical data from the London ICE exchange, in October, the average change price of gas in Europe reached nearly the highest level in the past year at approximately $456 per thousand cubic meters.

In October, the cost of gas for the nearest contract was an average of $455.9 per thousand cubic meters. This figure is $40 or 9.6% higher than the September figure of $415.9, but nearly $60 or 24% lower than the October figure of the previous year, and also lower than the November figure of $511.3 per thousand cubic meters.

Additionally, at the end of October, these prices exceeded $485 per thousand cubic meters for the first time since December 1 of last year. Experts noted that prices increased last month amid uncertainties regarding gas supplies from Russia, both through pipelines and liquefied natural gas.