This is one of the main reasons I expect deflation to happen unless there's QE and low rates again here in the UK. Natural gas prices were the biggest system shock in 2022 driving the "cost of living crisis" and sending UK energy companies into bankruptcy. It literally went up 1000%.

But now we're heading towards historic lows - both a sign that production costs of goods will come down, but also partly shows that demand for energy is decreasing (although bigger driver seems to be a supply glut despite Ukraine war).