Gas prices have risen dramatically: record high for this time of year

At the beginning of September, the price of natural gas rose to 360 RON/MWh, the highest level ever recorded for this time of year, with a single exception: the year in which the conflict in Ukraine began.

More specifically, gas for delivery on 3 September was traded at an average price of 359.98 RON/MWh. This is more than 210 RON above the 150 RON level recorded at the end of February, according to data from Profit.ro, as reported by News.ro.

An analysis carried out by the national transmission operator Transgaz shows that, between 27 February and 7 September, gas prices on the Romanian Commodities Exchange (BRM) rose by 125%.

What is driving the price increase

This trend is linked to the geopolitical situation in the Middle East and uncertainty surrounding energy transportation through the Strait of Hormuz.

Another significant factor is the low level of gas stocks. European storage facilities are approximately 67% full, below the average of around 83% recorded for the same period in recent years.

In addition, the market is closely monitoring liquefied natural gas (LNG) deliveries. Recently, a vessel from Qatar crossed the Strait of Hormuz for the first time since July, with other ships repositioning in the area.

For the period October 2026 – March 2027, prices remain elevated, currently ranging between approximately 70 and 75.2 euros/MWh, with the highest values forecast for the beginning of the cold season.