Hike in energy prices will be high ‘for a very long time’: EU energy commissioner

The EU is assessing “all possibilities” including fuel rationing and releasing more oil from emergency reserves as it braces for a “long-lasting” energy shock from the Middle East war, the Financial Times reported on Friday in an interview with EU Energy Commissioner Dan Jorgensen.

“This will be a long crisis … energy prices will be higher for a very long time,” Dan Jorgensen told the FT, saying that for some more “critical” products “we expect it to be even worse in the weeks to come.”