JAKARTA - The head of the German Federal Network Agency (Federal Network Agency) Klaus Muller stated that gas prices in the country would rise due to the conflict in the Middle East.
"The consequences of the conflict over Iran are felt by everyone who has to buy gas on the exchange," Mueller said in an interview with the RND media group.
He noted that most households in Germany currently have guarantees that their gas prices will not change for at least 12 months.
"However, if a new contract is agreed, then the price could go up," Mueller said, quoted by ANTARA from Sputnik, Tuesday, May 12.
However, Mueller expects prices will not rise as quickly as they did after the conflict in Ukraine began in 2022.
On February 28, the United States and Israel began attacking targets in Iran, causing damage and civilian casualties. Iran also carried out retaliatory attacks in Israeli territory and at US military facilities in the Middle East.
The escalating conflict in the Middle East has led to a de facto blockade of the Strait of Hormuz, which is the main route for oil and liquefied natural gas supplies from the Persian Gulf to global markets.
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