Coal prices in the U.S. exceed $100 a ton for the first time since 2008

The cost of coal in the U.S. for the first time since 2008 exceeded $100 per ton amid the crisis around Ukraine. This was reported by Bloomberg.

The rise in coal prices in the U.S. is observed amid the rejection of Russian energy supplies and increased demand due to the recovery of the economy from the effects of the pandemic of a new coronavirus. Russian coal accounted for about 18 percent of the world’s energy supply in 2020.

The cost per ton of coal mined in the Central Appalachians was $106.15 per ton last week, crossing $100 for the first time since 2008. Prices for coal from the Illinois coal basin hit $109.55 a ton, surpassing the $100 mark for the first time in 15 years.

On March 8, U.S. President Joe Biden signed an executive order banning energy imports from Russia and new investments in the Russian energy sector. The US Treasury Department set a deadline of April 22 for completing deals on oil, oil products, LNG and coal imports to the country from Russia. After that, the cost of gasoline at gas stations in the US started to grow markedly, even though inflation in the country had already been at a high level for a long time.