The price of gas has dropped to $1,008 per thousand cubic meters after Russian President Vladimir Putin instructed to increase the supply of blue fuel to Europe
October 27, the Russian leader instructed Gazprom head Alexei Miller to increase gas supplies to European countries after the completion of pumping the blue fuel into Russia’s storage facilities.
According to London’s ICE exchange, after Putin’s statement, the price of gas dropped from $1,041 per thousand cubic metres to $1,008. In just one day, the price of the blue fuel dropped by 4 per cent.
In August this year, the price of a thousand cubic meters of gas was USD 515; however, by the end of September the price of fuel had doubled. On October 6, the gas price broke the historical record of USD 1,937.
Remarkably, even at that time, the statement of Russian leader Vladimir Putin about his readiness to help stabilize the energy market in Europe contributed to the reduction of gas prices.