SEB economist: gas prices may rise this winter, but pressure unlikely to last

SEB bank economist Dainis Gašpuitis shared his outlook on gas price trends that could affect the upcoming heating season, speaking on the TV24 program “Ziņu TOP.”

Price fluctuations expected to continue

According to Gašpuitis, further gas price fluctuations are likely, and current trends point toward a possible continued increase. However, he noted that global gas production capacity is gradually growing, which is why he does not view the present price pressure as a long-term problem.

Winter is the key factor

The economist explained that the current situation is mainly tied to uncertainty around the coming winter rather than structural changes in the gas market. This is also reflected in trading for next spring's gas supplies, where prices are already signaling lower levels than at present.

It all depends on the weather

Gašpuitis said the decisive factor will be how early and how cold the winter turns out to be. If cold weather arrives later and winter proves relatively mild, demand for gas will decrease and price pressure could ease fairly quickly. If, however, winter begins earlier and is harsher, consumers may need to reckon with higher gas costs for a certain period.