Rising Gas Prices Harm The Supply Chain

Heavy industrial firms—those that are energy-intensive—have been forced to curtail production in the face of skyrocketing natural gas prices. Steel, fertilizer, glass, and other industries have been hit by rising costs, which could lead distributors to pass those costs on to consumers. Due to higher consumption in Asia, low inventories, and diminishing Russian supplies, natural gas prices have been rising for months. In Europe alone, gas prices are up 250% this year. Prices jumped 175% in Asia. American energy organizations are even calling for the Department of Energy to stop natural gas exports to increase the local supply.