Nearly ** percent of U.S. registered voters are very concerned over the impact of the Russia-Ukraine war on gasoline prices at home. According to a March 2022 survey, ** percent of Democrats and ** percent of Republicans expressed a strong level of concern over rising gasoline prices in the wake of economic sanctions on Russia.

The average price for regular gasoline in the United States stood at **** U.S. dollars per gallon on October 27, 2025. This compared to a diesel price of **** U.S. dollars per gallon. Prices for gasoline and diesel remained stable that week. Real price surge of 2022 and 2023 still below 2011 to 2014 prices When looking at the real price of gasoline over time, U.S. drivers had to pay notably more in the years between 2011 and 2014. The surge in prices noted throughout 2022 and partly for 2023, which followed supply constraints, was still lower in terms of real U.S. dollars. U.S. on the lower-end spectrum of worldwide motor fuel prices The U.S. has some of the lowest conventional motor fuel prices in the world. Although fuel prices are usually higher in high-income countries, the U.S. profits from its position as the world’s largest crude oil producer and can keep retail prices for oil products comparatively low. For example, among high-income countries, prices for automotive premium gasoline (RON 95) were only lower in Russia and Saudi Arabia - countries where crude oil and oil product exports are in part restricted by sanctions, thus keeping domestic supply high.

In March 2022, the majority of Hungarians were concerned that gas prices would increase as a consequence of the Russia-Ukraine war. Fidesz-KDNP voters were the most optimistic about future gas prices as only ** percent of them expressed their worry.

The average monthly price for natural gas in the United States amounted to *** nominal U.S. dollars per million British thermal units (Btu) in October 2025. By contrast, natural gas prices in Europe were about three times higher than those in the U.S. Prices in Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over ** U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than ** percent between 2021 and 2024. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2024, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

TTF Gas fell to 27.92 EUR/MWh on December 3, 2025, down 0.17% from the previous day. Over the past month, TTF Gas's price has fallen 14.22%, and is down 40.94% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas - values, historical data, forecasts and news - updated on December of 2025.

The paper analyzes the problem of entropy in the moments of transition from a normal economic situation (2015–2019) to the Pandemic period (2020–2021) and the period of Russia’s attack on Ukraine (2022–2023). The research in the article is based on the analysis of electricity, oil, coal, and gas prices in 27 countries of the European Union and Norway. The daily data cover the period from January 1, 2015, to March 30, 2023, and were analyzed using two-dimensional sets of electricity and commodity prices. The work uses the time dependent James-Stein estimator of the Shannon informational entropy.

The global fuel energy price index stood at 157.89 index points in September 2025, up from 100 in the base year 2016. Figures decreased that month due to a fall in natural gas prices. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Tariffs bring economic uncertainty With the global economy having adjusted to the effects of the Russia-Ukraine war, new uncertainty has emerged due to tariffs imposed by the Trump administration. If these tariffs are fully implemented, global trade could be significantly disrupted, mainly the bilateral trade between the world’s two largest economies. In 2025, import tariffs between China and the United States exceeded 130 percent on both sides, while their tariffs on imports from the rest of the world were around 10 percent. U.S. tariffs on Chinese imported goods reached a high of 134.7 percent in April of that year, while China imposed a 147.6 percent tariff on U.S. goods. Early estimates indicate that the impact of Trump’s proposed tariffs on the U.S. economy could amount to 0.4 percent of GDP, mainly driven by the reduced trade with Mexico, Canada and China.

The size of the USA Oil and Gas Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.00% during the forecast period. Recent developments include: March 2022: The United States' President Joe Biden agreed to a landmark energy supply deal with the European Union. Under this deal, the United States was expected to increase transatlantic gas deliveries. This deal is important to reduce dependence on Russia after the Russia-Ukraine War., January 2022: The Department of Energy announced the release of 13.4 million barrels of oil from the Strategic Petroleum Reserve. The release of the emergency oil reserves aimed to combat rising gasoline prices in the United States and the lack of oil supply worldwide.. Key drivers for this market are: 4., Modernization and Upgrades of Existing Military Aircraft Fleets4.; Increasing Defense Budgets. Potential restraints include: 4., Shift Toward Unmanned Aircraft. Notable trends are: Upstream Sector Expected Witness Significant Growth.

Average Producer Price: Gasoline: AI-95 & Higher: North Western Federal District data was reported at 22.460 RUB/l in Apr 2023. This records an increase from the previous number of 18.490 RUB/l for Mar 2023. Average Producer Price: Gasoline: AI-95 & Higher: North Western Federal District data is updated monthly, averaging 17.580 RUB/l from Jun 2011 (Median) to Apr 2023, with 83 observations. The data reached an all-time high of 23.990 RUB/l in Mar 2022 and a record low of 11.930 RUB/l in Mar 2012. Average Producer Price: Gasoline: AI-95 & Higher: North Western Federal District data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Global Database’s Russian Federation – Table RU.RBL010: Average Producer Price: by Federal District: Fuel.

The United States imported an average of 147,000 barrels of petroleum per day from Russia in 2022. The U.S. Congress passed a bill banning imports from oil, gas, coal, and other energy commodities from Russia in April 2022 as a reaction to Russia’s invasion of Ukraine. Other Western countries did the same as an effort to penalize and put economic pressure on Russia. According to a survey from March 2022, 49 percent of U.S. registered voters supported the government's sanctions on Russian oil exports.

Market and price uncertainty

Even though Russia was among the leading countries for petroleum imports into the U.S., market disruptions caused by the imposed sanctions have still severely impacted U.S. average gas prices. In June 2022, gasoline prices reached a new peak of more than five U.S. dollars per gallon. By comparison, diesel prices climbed to around 5.8 U.S. dollars. With the world still grappling with the economic repercussions brought on by the pandemic, the Russia-Ukraine war added another layer of uncertainty over market development. According to a June 2022 outlook, the average global GDP growth forecast change due to the Russia-Ukraine war was a 1.44 percent decrease to the projection made before the war. Only five countries out of the 42 included in the study were forecast to have a positive GDP growth.

On October 27, 2025, the price of ultra-low sulfur unleaded petrol (gasoline) in the United Kingdom averaged 134.4 pence per liter. This compared to 143.26 pence per liter for diesel. Diesel prices were consistently higher than petrol/gasoline prices throughout this period, although the margin varied. Reasons for such differences in pricing lie in the refining process and molecular makeup of the products, with diesel requiring more complex refining processes and being an overall heavier liquid. As motor fuel pricing in the UK is not regulated by a monitoring body, there may also be notable differences in prices between retailers and regions. Supermarkets provide lowest fuel prices in the UK In the UK, much of the motor fuel is sold through supermarkets. Large supermarkets, or hypermarkets, account for more than 40 percent of all motor fuel sales in the country. The reason for their popularity often lies in the fact that they offer lower average prices. In the last four years, regular petrol/gasoline sold at supermarkets was up to six pence per liter cheaper than the national average. How UK fuel prices compare to the rest of the world Tied as they are to crude oil prices, motor fuels are generally cheapest in major producing countries, such as Iran, Venezuela, and Russia. In Europe, costs of importing the raw or finished products, in addition to taxes and levies, may hike up pump prices significantly. The UK is often among the countries with the highest petrol/gasoline prices, alongside other large European car markets such as France and Germany.

U.S. gasoline prices decreased across all fuel grades in July 2025 when compared to the month before. Regular gasoline prices rose to an average of 3.17 U.S. dollars per gallon. In the period of consideration, gasoline prices reached their highest level in June 2022. Differences in fuel grades Fuel grades at U.S. gas stations are differentiated by octane level. Higher grade fuels have higher octane levels, meaning that the fuel can be compressed more in the engine. This enables high-performance engines to create more power. Fuel may also vary from state to state and pump to pump. Some cities also have regulations on gasoline in order to improve air quality. Bioethanol is added to gasoline in some cases to meet the renewable fuel standard. Gasoline-run engines are able to run on blends with a bioethanol percentage of up to 25 percent. Gasoline prices reach historic high Primarily a result of the Russia-Ukraine war and inflation, the annual retail price of gasoline reached a new historic high in 2022, climbing to nearly four U.S. dollars per gallon. By 2024, annual prices had decreased again slightly, reaching 2014 levels.

The global natural gas price index stood at 174.31 index points in September 2025. Natural gas prices decreased that month as cooling demand fell due to colder weather than expected. The global price index takes into account indices from Europe, Japan, and the United States – some of the largest natural gas trading markets. The U.S. is the leading natural gas exporter in the world. Means of trading natural gas Liquefied natural gas (LNG) is the most common form of trading natural gas. Although piped gas is often the preferred choice for transportation between neighboring producing and consuming countries, seaborne trade as LNG has grown in market volume. This is in part thanks to high consumption in pipeline-inaccessible areas such as Japan, Korea, and China, as well as the recent increase in LNG trade by European countries. Major natural gas price benchmarks The natural gas prices often used as global benchmarks are Europe’s Dutch TTF traded on the Intercontinental Exchange, Indonesian LNG in Japan, and the U.S. Henry Hub traded on the New York Mercantile Exchange. 2022 was an especially volatile year for natural gas prices, as supply was severely constrained following sanctions on Russian imports. Other reasons for recent spikes in gas prices are related to issues at refineries, changes in demand, and problems along seaborne supply routes.

In September 2022, diesel prices ranged between ***** and ***** pence per liter across UK regions. Diesel fuel prices are generally highest in London and lowest in Northern Ireland. In early 2022, the Russia-Ukraine war and trader uncertainty pushed crude oil and consequently motor fuel prices to record highs. As a result, March 2022 saw the greatest ever monthly rise in fuel prices.

Average gasoline prices increased between December 19 and December 20, 2022, reaching ***** Canadian cents per liter. This reflects the uncertainty the crude oil market faces as economic sanctions are taken against Russia after its invasion of Ukraine on February 24. Retail price for regular gasoline in the country had increased throughout the past years.

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for global oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

In May 2024, the average diesel price in Germany was 142.9 British pence per liter. It was the lowest monthly average for 2024 so far. Figures spiked notably during March 2022 as the Russia-Ukraine war impacted crude oil prices, which affected motor fuel prices across multiple countries, particularly in Europe. In the period of consideration, figures saw a net increase despite some fluctuations.

In July 2025, the average diesel price in Italy stood at ***** British pence per liter, the highest figure in the year. Monthly prices of diesel in Italy peaked at ***** British pence per liter in March 2022, approximately one month after the Russian invasion of Ukraine.

In October 2023, monthly prices of premium unleaded petrol in Italy stood at ***** British pence per liter. In the period of consideration, figures increased despite some fluctuations. Monthly prices of premium unleaded petrol in Italy peaked at ***** British pence per liter in March 2022, after the Russian invasion of Ukraine. Between April and May 2020, premium unleaded petrol presented a particular decline, due to the coronavirus pandemic. The average monthly diesel price in Italy showed a similar increase over the past months.