Record drop in gasoline prices
In Europe, gas fell three times over the winter to about $515 per 1,000 cubic metres. m writes TASS with reference to its own calculations and data on futures from the London ICE exchange. According to the agency, such a drop in prices is due to the high filling of gas storage facilities and abnormally warm winters.
“If on November 30, gas futures were trading at about $1,550 per 1,000 cubic metres. m, then on February 28, the trade closed at $ 515 – three times lower than at the beginning of winter. The strongest decline was seen on February 28, when the gas price fell to $505 for the first time since the end of August 2021.
Journalists stated that the cost of natural gas in December averaged $1,272 per 1,000 cubic meters. m, in January – $ 712, and in February – about $ 583.
By mid-December, thermometers in Europe showed temperatures below the climatic norms, but a prolonged warming soon began in the region.
In addition, EU UGSF stocks were replenished at a historic peak for winter – 61.65% – 21.61% higher than normal over the past five years. According to the agency, they contain 66.94 billion cubic meters. m gas.
At the same time, Gazprom previously reported that such occupancy at storage facilities does not guarantee the passage of the autumn-winter period.
On Friday, the cost of gas fell further in Europe for the first time since August 23, 2021 – now the price of blue fuel is $ 500 per 1,000 cubic meters. m, according to RIA Novosti, citing data from the London stock exchange ICE.
April futures on the TTF index, the Netherlands’ largest transit hub in Europe, showed gas costing $497.3 per thousand cubic meters, according to the agency. m. A year ago, gas prices were 3.7 times higher – about $ 1,900 per thousand cubic meters.
According to open sources, the cost of gas in Europe has been rising since spring 2021. By the end of the summer, TTF gas prices exceeded $600 and by the fall they reached $1,000. Prices reached a record $3,892 per thousand cubic metres, amid fears of banning imports of Russian energy supplies in the spring of last year after Russia launched its military special operation in Ukraine.
Medvedev’s predictions
On 22 August, First Vice-President of the Security Council Dmitry Medvedev commented on the rapid rise in gas prices in Europe.
“This pleasant combination has almost worked for European politicians. Gas – $2,800 per thousand cubic meters. austerity mode. It seems that only Scholz, who was looking for gasoline in Canada, was completely washed out. What will the prices be at the end of the year? 3000$? $4000? Who else guys? – Wrote on Telegram channel.
On 28 August, the vice-chairman of the Security Council wrote in another post to “Heads of state and government of the European Union countries” that “gas prices have risen to 3,500 euros per thousand cubic meters”. meters, I need to increase the estimated price to €5,000 by the end of 2022.”
Medvedev accompanied his post with a painting “Gas Daddy”, which depicts a gloomy old man with a candle in his hand, and the phrase “Best wishes”, which can also be literally translated as “warm wishes”.