German Chancellor Friedrich Merz says Europe has paid more than €100 billion in additional fossil fuel costs without receiving any extra energy. According to the European Commission, gas prices have surged by 140%, while diesel prices have doubled. Nearly 50 million people are also struggling to afford adequate heating.
The energy crisis is unfolding as Europe’s gas reserves remain below seasonal norms. On October 21, EU gas storage stood at 75%, below the nine-year average for this time of year.
Merz is now calling for a swift end to the war, warning that prolonging the crisis will further drive up energy prices, production costs, and the cost of everyday life across Europe.
The economic consequences of the confrontation with Iran are increasingly being felt in Europe’s energy bills and in people’s daily lives.
Source: iuvmpress.co
