Gas Prices 2024 Ukraine. Two years into russia’s war on ukraine, the uk is shown to be the most susceptible country in europe to price shocks caused by a change in the supply of gas. Gas prices also drove up wholesale electricity prices in the euro area.

A continuation of russian gas flows through ukraine would only have a small impact on european fuel prices this winter, according to bernstein analysts. Natural gas prices in europe hit their highest level of the year this week after ukrainian forces took control of the last remaining transit hub for russian gas into europe.