EU Energy Commissioner Dan Jørgensen Warns Of Fragmented Market Responses As Oil And Gas Prices Surge

Energy Commissioner Dan Jørgensen warns of 70% oil price hikes and calls for EU unity to prevent market disruptions amid the ongoing Iran war and supply crisis.

By: AXL Media

Published: Mar 31, 2026, 2:25 PM EDT

Source: The information in this article was sourced from Euronews

Coordinated Response Necessary For Market Stability

European Energy Commissioner Dan Jørgensen addressed reporters on Tuesday to emphasize the vital importance of a cohesive continental strategy in the face of skyrocketing energy costs. He warned that fragmented national responses could send disruptive signals to global markets, potentially worsening the already precarious balance between supply and demand. By aligning domestic policies, the European Union aims to present a unified front that prevents internal competition for limited resources and stabilizes the broader economic landscape during a period of extreme volatility.

Emergency Session Triggered By Regional Conflict

The urgency of the situation was underscored by an emergency gathering of energy ministers convened by the Cyprus Presidency of the EU. This meeting was a direct response to the escalating war in Iran and the strategic closure of the Strait of Hormuz, which has sent shockwaves through international energy shipping lanes. Officials at the meeting noted particular concern for the transportation sector, which remains heavily reliant on imported diesel and jet fuel, as the risk of prolonged supply interruptions continues to grow alongside rising prices.

Drastic Measures To Curb Fossil Fuel Consumption

As crude oil prices surge by 70 percent and natural gas follows with a 50 percent increase, the European Commission is floating several drastic conservation measures reminiscent of the 1970s. Jørgensen indicated that member states might need to consider fuel rationing, the implementation of remote work mandates, and even the return of car free Sundays to significantly lower demand. While the Commissioner acknowledged that individual national circumstances vary, he insisted that a severe situation requires a robust and collective reduction in the consumption of traditional fuels.