European and the U.K. natural gas prices surged to record peaks Friday on supply disruption fears as a result of key supplier Russia’s ongoing attack on Ukraine.
Europe’s reference Dutch TTF gas price struck 213.895 euros per megawatt-hour in afternoon deals, while U.K. gas prices hit 508.80 pence per therm.
Americans have been warned that they can expect increasing pain at the pump, meanwhile, as rising oil costs continue to push up prices at gas stations across the U.S. That spike is unlikely to ease anytime soon as Russia’s war with Ukraine intensifies, experts say.
The current national average price of gas is $3.61 a gallon, up 26 cents from February and roughly a dollar from a year ago, according to data from AAA. In U.S. states with the priciest fuel, motorists already are paying nearly $4.50 a gallon, according to price tracker GasBuddy. \
– CBS/AFP
