The fall of natural gas prices in international markets has created new heating fuel conditions, as the decline is directly impacting retail prices for gas heating, now nearly half the price of those for heating oil.

In the midst of the energy crisis, the retail prices of natural gas for heating and heating oil cost roughly the same.

Natural gas prices exceeded 300 euros per MWh in international markets in the summer of 2022 and are now down to a fraction of that, 23 euros per MWh, a two-year low.

Last month, heating oil cost an average of 1.28 euros per liter, while the average price for natural gas was 0.071 euros per KWh. Converting this heating oil price to euros per KWh terms results in retail natural gas costing 41 percent less.

Comparing the prices of the two heating fuel so far this month makes natural gas an even more favorable option, now 48.9 percent cheaper, as heating oil prices have risen slightly to 1.3 euros per liter, whereas natural gas prices have slid further to 0.063 euros per KWh.

Natural gas has clearly regained its place as a far more competitive heating solution compared to heating oil, as highlighted by far greater use of natural gas in areas where distribution networks are  available.