Gas Prices Surge Amidst Middle East Conflict; Electricity Costs to Fall in Belgium
Brussels – A recent escalation of tensions in the Middle East is driving up gas prices in Europe, even as a pre-planned adjustment to energy taxes will see electricity costs decrease in Belgium starting April 1st. The complex interplay of geopolitical events and domestic policy is creating a shifting landscape for energy consumers.
The surge in gas prices follows attacks on gas fields in the Middle East, with Israel reportedly bombing gas installations in Iran. The South Pars gas field, one of the world’s largest, was targeted, and Iran retaliated with attacks on energy facilities in Qatar, resulting in a 35 percent increase on the Amsterdam gas exchange today, March 21, 2026. This highlights Europe’s continued reliance on Middle Eastern gas supplies, despite efforts to diversify energy sources.
“These attacks are putting pressure on the supply from the Middle East,” explained Wim Turkenberg, emeritus professor of Science, Technology & Society at Utrecht University. “While the Netherlands primarily sources gas from Norway, the United States, and its own limited domestic fields – enough for approximately ten to twenty more years – we remain partially dependent on gas imports from the region.”
Meanwhile, Belgium’s Minister of Finance, Jan Jambon, is proceeding with a previously announced increase in excise taxes on natural gas and heating oil, effective April 1st. This decision, made during the budget planning process before the current energy crisis, has drawn criticism from opposition parties who argue We see poorly timed given the rising global energy prices. The move is expected to add approximately €19.50 to the average household’s gas bill, while reducing electricity costs by €12.60, resulting in a net increase of around €7 for a family of four. For those using heating oil, the net increase will be approximately €15.60.
Despite calls for a postponement or mitigation of the tax increase, amendments proposed by parties such as PS and PVDA were unsuccessful, and the law was approved. Critics accuse the government of hypocrisy, advocating for purchasing power protection while simultaneously increasing energy bills. The government maintains the measure is a step towards promoting greener energy policies and reducing gas consumption.
The decision to proceed with the tax increase underscores the government’s commitment to fiscal policy, even amidst volatile market conditions. The timing of the changes, however, continues to fuel debate about the balance between economic objectives and consumer affordability.
