MOSCOW, May 30. /TASS/. The average gas price in Europe increased by more than one-third this spring compared with the same period last year, reaching about $582 per 1,000 cubic meters amid the ongoing conflict in the Middle East. This is according to data from the London-based ICE exchange on futures contracts and TASS calculations.
In addition, gas prices in Europe in May were 39% higher than the average quotations recorded in May 2025.
While gas futures traded at about $562 per 1,000 cubic meters on April 30, trading on May 29 closed at around $550, down 2% compared with the end of last month.
Gas prices at European hubs averaged $481 per 1,000 cubic meters in the first quarter of this year, while in the second quarter they have remained around $557. Overall, quotations this spring were 36% higher than during the same period last year.
The average gas price in Europe stood at about $517 per 1,000 cubic meters in January 2025 (up 53% year-on-year from 2024), $542 in February (+88%), $467 in March (+55%), $409 in April (+28%), $412 in May (+15%), $439 in June (+14%), $410 in July (+12%), $394 in August (-10%), $393 in September (-5.5%), $384 in October (-16%), $368 in November (-25%), $334 in December (-32%), $415 in January 2026 (-20%), $396 in February (-27%), $632 in March (+35%), $544 in April (+33%), and $571 in May (+39%).
