Europe energy prices surge as coal, gas and diesel costs climb amid winter demand and supply disruptions

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Energy prices across Europe surged on Thursday as coal, gas, and fuel costs climbed amid supply disruptions and rising winter demand.
In Poland, coal prices at storage depots have spiked, with a ton of nut coal now costing up to 2,150 zł ($540) in Bydgoszcz, a 300 zł increase since early August, according to local sellers . The government insists supplies will suffice, with State Assets Minister Wojciech Balczun stating that mining companies have been ordered to boost output where possible without major investments, citing reserves in Bogdanka and Jastrzębska Spółka Węglowa . However, Poland has also accelerated coal imports, bringing in 3.06 million tons in the first half of 2026—168% more than the same period last year—primarily from Kazakhstan and Colombia, with shipments transiting through Russia under sanctions exemptions .
Meanwhile, EU gas storage levels stand at 70% capacity, down from 82% a year ago, with Germany at just 57%, as prices exceed €73 per megawatt-hour—more than double since late February—due to Middle East-related supply disruptions . Diesel prices in the EU have hit a record average of €2.23 per liter, up 7 cents from last week, with Bulgaria, the Czech Republic, and Estonia seeing the sharpest increases .
Latvia’s government announced plans to cut fuel excise taxes, waive reserve requirements, and suspend biofuel mandates to reduce prices by up to €0.20 per liter from October 1 through December 31, citing broader economic strain from rising transport and logistics costs .
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