Gas prices at European hubs started to grow last fall. In September 2024, the average gas price in Europe stood at about $416 per 1,000 cubic meters, rising to $456 in October, $491 in November, $489 in December, $517 in January 2025 and $542 in February, News.Az reports, citing TASS.
The main reasons behind the price increase included the high rate of gas withdrawal from storage facilities and the low share of wind generation.
However, there was a reversal in the gas price trend at the end of February due to warmer weather in the region and the launch of talks between Russia and the US.
