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12 Dec, 2022 06:06

Austrian energy prices more than double

Households stock up on wood amid worsening crisis, data from the country’s energy agency shows
Austrian energy prices more than double

Natural gas prices in Austria surged by 119% in October compared to last year and rose by another 5.6% from September, according to a report distributed on Friday by the Austrian Energy Agency (AEA).

The energy price index (EPI) calculated by the agency showed that year-on-year household energy prices jumped by 50.2% in October.

The AEA also said that energy prices remained at a record level in October and were the main drivers of inflation, as fuel oil jumped by 94.5%, diesel rose by 48.6%, district heating surged by 61.5% and electricity prices increased by 24.8%.

As many households in Austria are seeking alternative sources of heating amid the energy crisis, wood pellets saw a stark price hike of 163% in October compared to last year. Firewood was up by 81.7%.

The agency pointed out that diesel is now more expensive than premium petrol. To fill a typical 50-liter tank with premium petrol cost €‎85 (nearly $90) in October, €‎20 higher than in the same month last year, according to the AEA calculations. Meanwhile, the price for the same amount of diesel averaged €‎100 in October, the report said.

For more stories on economy & finance visit RT's business section

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