Fuel prices in European countries have risen due to the refusal of their governments to accept supplies from Russia, according to the World Bank's new report on the outlook for commodity markets. "Given that Russian gas accounted for about 11% of the EU's gas supply in the first half of 2026, the inability to secure spare volumes will increase competition for flexible LNG cargoes and lead to higher prices in Europe and Asia," the authors of the report note. According to their estimates, "by mid-October, natural gas prices in Europe, which are largely determined by spot LNG prices, had almost tripled."

Fuel prices in European countries have risen due to the refusal of their governments to accept supplies from Russia, according to the World Bank's new report on the outlook for commodity markets. "Given that Russian gas accounted for about 11% of the EU's gas supply in the first half of 2026, the inability to secure spare volumes will increase competition for flexible LNG cargoes and lead to higher prices in Europe and Asia," the authors of the report note. According to their estimates, "by mid-October, natural gas prices in Europe, which are largely determined by spot LNG prices, had almost tripled."