Gas prices could soar further if Europe is hit by a cold snap, warn experts

Gas prices could soar further if Europe is hit by a cold snap, warn experts

Record high gas prices could be a permanent fixture in the coming months until supply is able to catch up with global demand, experts have warned.

And they could increase further if Europe has to contend with a harsh winter that would increase pressure on reserves further.

In the last two days, European gas prices have gained by around 60%, fuelling concerns about inflation and the potential impact on economic recovery.