Gas and Oil Prices Rise: The President of the European Commission Elaborates

The countries of the European Union are paying significantly higher prices for imported energy carriers amid the backdrop of the conflict that has erupted in the Middle East. According to European Commission President Ursula von der Leyen, recent developments have once again highlighted the influence of regional instability on the EU's dependency.

According to the data she presented, the price of natural gas has increased by about 50 percent since the onset of the conflict, while oil prices have risen by approximately 27 percent. This inflation has directly impacted the import costs for European countries.

Von der Leyen noted that if this increase is calculated in euros, the military tensions lasting just ten days have already resulted in an additional cost of around 3 billion euros for European taxpayers, related to fossil fuel imports.

According to the President of the European Commission, as long as Europe continues to import fossil fuels in significant volumes from unstable regions, the EU will remain vulnerable to fluctuations in the energy market and dependent on external supplies.