The media reported a record high in the cost of gas in Ukraine

The cost of natural gas in Ukraine has risen to a record high in two years, reaching 23 thousand hryvnias ($553) per 1 cubic meter, ExPro Daily Gas reported on May 28.

"On May 26, 2025, natural gas prices on the Ukrainian market reached 23 thousand UAH/tcm (including VAT). This is the highest price level in more than two years, since February 2023," the article says.

According to the publication, the main reasons for the price increase were the excess of demand over supply and the withdrawal from the Ukrnafta market.

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Oleg Popenko, head of the Ukrainian Union of Utility Consumers, said on May 21 that due to the gas shortage in Ukraine, a possible power outage is expected in the summer. According to him, it will be difficult to cover peak loads in the summer if the temperature stays at +30 degrees and above for at least two to three weeks.

Igor Yushkov, an expert at the Financial University and a leading analyst at the National Energy Security Fund, told Izvestia on May 22 that the heat and drought in the rest of Europe would affect the electricity situation in Ukraine.