Commentary
Europe’s average gas price has climbed to $7.15 per gallon, more than 70 percent above the average U.S. retail gasoline price and well above China’s national level of $5.50 per gallon, according to official figures. Meanwhile, European benchmark natural gas prices are up by 38 percent compared with one year ago, while U.S. natural gas prices are down significantly, by almost 26 percent, according to the latest Bloomberg figures.
