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Electricity prices rose significantly in October

Electricity prices rose significantly in October
Electricity prices rose by 10.3 percent.
Image: HERBERT NEUBAUER (APA)

Electricity prices rose by 10.3 percent, and heating oil prices were 1.6 percent higher than in September. There were noticeable declines in district heating (minus 5.5 percent) and natural gas (minus 3.3 percent), as the energy agency announced in a press release. Prices have also recently fallen for premium gasoline (minus 3.2 percent), although a little more had to be paid for diesel (plus 0.5 percent). However, prices fell sharply year-on-year. For a typical tank filling of 50 liters, you had to pay around 13 euros less for diesel and 6 euros less for premium gasoline.

Slight relaxation in gasoline, diesel and heating oil prices is expected

The situation is similar with heating oil, which has become more expensive month-on-month. However, a typical annual heating oil requirement of 3,000 liters cost around 1,000 euros less in October than a year ago. In addition, a look at current market data suggests that “a slight relaxation in gasoline, diesel and heating oil prices can be expected.”

The prices for district heating and gas fell monthly, but rose noticeably year-on-year (plus 15.4 percent and plus 27 percent). Compared to October 2022, there was a decrease of 9.8 percent in electricity. The prices for wood pellets were slightly higher than in September (plus 1.1 percent), while the energy agency recorded a decrease of 3 percent for firewood. Compared to the previous year, the prices of wood pellets and firewood fell sharply.

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