The price of heating oil literally doubled overnight here. Petrol prices have already started to be marked up too. I expect another surge in Electricity costs like after Nordstream, where the price quadrupled briefly.
I expect it’s going to get a lot worse in the coming weeks. It looks like a lot of energy producing infrastructure is being hit right now across the Middle East. Once the supply collapses, there’s really nowhere to fill the gap from. And even if Europe went to Russia to beg, it’s not a given that Russia would agree at this point.
The price of heating oil literally doubled overnight here. Petrol prices have already started to be marked up too. I expect another surge in Electricity costs like after Nordstream, where the price quadrupled briefly.
I expect it’s going to get a lot worse in the coming weeks. It looks like a lot of energy producing infrastructure is being hit right now across the Middle East. Once the supply collapses, there’s really nowhere to fill the gap from. And even if Europe went to Russia to beg, it’s not a given that Russia would agree at this point.