Our work shows that in some of the most-affected countries in Central and Eastern Europe—Hungary, the Slovak Republic and the Czech Republic—there is a risk of shortages of as much as 40 percent of gas consumption and of gross domestic product shrinking by up to 6 percent.
California, where gas prices are usually highest, could be averaging almost $3 a gallon by June. GasPriceWatch.com says the national average for unleaded gas is $2.30 a gallon, 40 or 50 cents higher than last year. California gas prices are averaging $2.50 per gallon, compared to $2.10 in April 2004.The price of natural gas for households in the Netherlands (€0.2481 per Kilowatt hour (KWh)) was more than seven times the price charged in Hungary (€0.0337 per KWh) and 157 % higher than the EU average price (€0.1187 per KWh). Figure 1: Natural gas prices for household consumers, first half 2023.
Prices in Norway (12.83 euro cents per kilowatt-hour), Switzerland (13.8), and Malta (13.95) came in at around a quarter of those in the Czech Republic. Counter-intuitively, the Czech Republic is also one of Europe's largest exporters of electricity. [11] - [13]. Most of it is qualitative with the exception of [11], where the interplay of wholesale and retail gas prices in the Czech Republic is analyzed quantitatively. This paper fills this On a yearly basis, the GDP fell 0.6% in the third quarter of 2023, the same as in the previous three-month period but above market estimates of 0.3% fall. The Czech Republic’s economy stagnated in the second quarter of 2023, compared to an earlier estimate indicating 0.1% growth and following an upwardly revised 0.1% rise in the previous quarter.