Domestic energy prices rose in November for the first time since September 2023, by 0.1 percent. The increase in the energy price index (EPI) is the result of the increase in diesel prices; Prices for all other energy sources continue to fall, the energy agency announced.
The annual comparison shows: On average, a household had to spend 14.7 percent less money on energy compared to November 2023.
Diesel prices rose 1.2 percent in November compared to October, but remained below the previous year’s level with a decline of 10.2 percent. According to the Energy Agency’s calculations, both premium gasoline (minus 0.2 percent) and domestic heating oil (minus 0.6 percent) prices have fallen compared to the previous month. The decline is larger on an annual basis: prices for premium gasoline fell by 5.2 percent and those for heating oil by 14.4 percent.
Energy prices at a high level despite downward trends
Household district heating prices remained unchanged from the previous month, but fell by 6.6 percent year-on-year. Household gas prices fell by 0.4 percent month-on-month and were even 28.9 percent below November 2023 levels. The energy agency reported a 0.1 percent decline for electricity prices compared to the previous month; by six percent.
The energy agency nevertheless points out that energy prices – despite the continuing downward trend – are at a high level, as shown by the long-term comparison. “Overall, however, energy prices continued to have a dampening effect on inflation in November,” the press release said.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
