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.

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