Former E-Control head Walter Boltz predicts energy prices will rise by 20 to 30 percent. Gasoline could exceed 2 euros per liter, while diesel may surpass 2.50 euros. These increases follow rising oil and gas costs linked to the closure of the .
Current gas prices sit at 80 euros per megawatt-hour, with electricity doubling that at 160 to 180 euros. While Houthi rebels target the Bab-al-Mandab strait, Boltz claims availability concerns are exaggerated. Austria holds a 20 TWh strategic gas reserve.
Storage levels reach 67.48 percent in Austria, though Germany remains at 50 percent or less. Disruptions at Bab-al-Mandab would impose high costs on Saudi Arabia. Europe now faces these shifts as it increasingly buys finished petroleum products over crude oil.