Household energy cheaper in June, fuel prices ease

Despite the current declines, fuel prices remain significantly above the previous year's level: heating oil cost 32.6 percent more than in June of the previous year, diesel 19.2 percent more, and premium gasoline 12.8 percent more. On an annual comparison, gasoline was the only energy source recorded in the EPI that was noticeably below the previous year's level, at 10.2 percent.

Household energy: Electricity and gas slightly more expensive

A mixed picture emerges for household energy sources. Electricity prices for households rose slightly in June compared to May, by 0.2 percent. Gas became 0.1 percent more expensive month-on-month and cost 4.6 percent more than a year earlier.

District heating prices remained stable on a monthly basis but rose by 1.9 percent year-on-year. Wood pellets remain a significant cost driver: in June they were 30.1 percent more expensive than a year ago.

In the annual comparison, energy remains a key inflation driver in Austria, with a plus of 5.4 percent. The monthly easing in heating oil and fuels only partially offsets price developments in wood pellets and gas.

Geopolitical risks for further developments

Lukas Zwieb, energy expert at the Austrian Energy Agency, pointed to the influence of the international environment: "Mit dem Wiederaufflammen der Kampfhandlungen sind mittlerweile wieder deutliche Preissteigerungen an den internationalen Rohölmärkten wie auch an den heimischen Zapfsäulen zu beobachten." This could put the recent declines at the petrol stations under pressure again.

The background to the statement is the tense situation on the international crude oil markets: if the situation around the Strait of Hormuz as well as developments in relations with Iran and the USA continue to push oil quotations, a trend reversal in diesel and gasoline is conceivable.

Significance for households and inflation

For households in Austria, the June statistics mean a slight short-term relief on heating oil and fuels. In the medium to long term, however, energy remains a noticeable cost factor, particularly in view of the price increases for wood pellets, gas and district heating on an annual comparison.

Overall, the current EPI shows that the energy price index is cooling off monthly, but the previous year's figures remain above the 2025 level. Further developments are likely to remain closely tied to the geopolitical situation and price movements on the international crude oil markets.