Winter is coming. Will gas prices be on the rise?

Since February 24, 2022, volatile energy prices have become the normal state of life for Luxembourg residents. Unfortunately, gas and oil prices are likely to rise again this winter. This is due to the escalation of relations between Israel and Palestine.

Other risks include possible strikes in Australia, damage to the gas pipeline between Finland and Poland, and the approach of winter in the northern hemisphere. Nevertheless, Luxembourg considers itself better prepared than before. This is due to the experience of last winter and the measures taken by the government.

If gas and oil prices start to rise, the government is ready to resume the subsidy program to keep prices at an acceptable level for consumers. This support is expected to last until December 31, 2024.