Energy Prices for Households Increased After More Than a Year

The rise in the Energy Price Index (EPI) is due to the increase in diesel prices, while prices for all other energy sources continue to decline, as reported by the Energy Agency. This is also shown in the annual comparison: On average, a household had to spend 14.7 percent less money on energy compared to November 2023.

Higher Diesel Prices

Diesel prices rose in November with an increase of 1.2 percent compared to October, but remained 10.2 percent below the previous year's level. Both the prices for super gasoline (down 0.2 percent) and those for heating oil (down 0.6 percent) fell according to the calculations of the Energy Agency compared to the previous month. The annual comparison shows a stronger decline: The prices for super gasoline decreased by 5.2 percent, those for heating oil by 14.4 percent.

Household prices for district heating remained unchanged compared to the previous month - however, they fell by 6.6 percent in the annual comparison. Gas prices for households decreased by 0.4 percent in the monthly comparison and were even 28.9 percent below the level of November 2023. The Energy Agency reported a decrease of 0.1 percent for electricity prices compared to the previous month, while they fell by six percent in the annual comparison.

High Energy Prices

Nevertheless, the Energy Agency pointed out that energy prices - despite the ongoing downward trend - are at a high level, as the long-term comparison shows. "Overall, however, energy prices continued to have a dampening effect on inflation in November," the statement said.

(APA/Red)

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