MOSCOW, May 1. /TASS/. Europe’s average gas price fell in April compared to March but rose year-on-year, according to futures data from London’s ICE exchange and TASS estimates.

Gas prices at European hubs started to grow last fall, reaching $509 per 1,000 cubic meter in the first quarter of 2025. In April, the average gas price dropped by 12.5% compared to March to about $409 per 1,000 cubic meters but turned out to be 28% higher than in April 2024.

Gas prices are higher this year due to Europe’s increased demand. European countries are expected to need more gas to fill their storage facilities, and they will have to compete for liquefied natural gas with Asia, where demand is also growing. The Gas Exporting Countries Forum expects that Europoe will face major difficulties filling its underground storage sites and predicts that gas stock prices in the summer will be higher than they were in the winter.