European energy commissioner has warned that millions of Europeans will struggle to afford heating their homes this winter amid energy supply disruptions due to the US-Israeli war on Iran and the Ukraine war.

European Energy Commissioner Dan Jorgensen warned that rising oil and gas prices could leave many people struggling to pay their bills, but claimed he did not expect oil and gas shortages in Europe following a meeting of the bloc’s energy ministers in Luxembourg on Thursday.

"Unfortunately, almost 50 million Europeans currently cannot afford to heat their homes adequately because of high energy prices. It is likely that this number will rise further," Jorgensen told reporters.

"We do not expect the security of supply issue as such. But for the citizens that are struggling to pay the bills, that might not matter," Jorgensen said.

"Although this is not a supply security crisis, it makes little difference to citizens who cannot afford to buy petrol for their cars or heat their homes that energy is available on the market if they cannot afford it," he added.

The affordability concerns come as Europe heads into winter with lower gas reserves than a year ago. Gas storage facilities across the EU are currently at 75 percent of their capacity, compared with 83 percent at the same point last year. The lower reserves are among the factors contributing to higher gas prices.

Last week, International Energy Agency (IEA) Executive Director Fatih Birol warned that Europe faced a difficult winter, with fuel supplies disrupted by the ongoing US-Israeli war on Iran.

IEA warns Europe of costly winter as war on Iran disrupts gas supplies

The IEA chief warns that Europe faces a costly winter, with gas stocks well below normal and prices likely to rise as the war on Iran disrupts global supplies.

Birol said the war had affected every country and market, driving up energy costs and disrupting supply chains. He also warned that Europe's exposure to the disruptions could increase as demand for liquefied natural gas (LNG) rises during the coming winter months, putting further upward pressure on energy prices.

He cautioned that a harsh winter could push natural gas prices even higher. "I think if we have a harsh winter, we may see higher prices of natural gas in Europe… Life will not be easy for Europe this year and also next year," he said.

Since the start of the US-Israeli aggression against Iran, Iranian armed forces have imposed restrictions on the Strait of Hormuz in retaliation, sending oil prices higher. More than 20 percent of the world's oil trade passes through the strategic waterway, while attacks on energy infrastructure in Iran and across the region caused major disruptions to global oil supplies.

The disruption has pushed global oil prices higher and led to fuel shortages in countries that imported most of their fuel from the Persian Gulf region.

Following the US-Israeli war on Iran, US President Donald Trump pressured Europe to release its strategic reserves as oil prices skyrocketed. High fuel costs have also become a critical issue for him ahead of congressional elections next Tuesday.

In mid-October, the International Energy Agency called on its members to step up the release of oil stocks ahead of winter.

Twelve European countries have now vowed to jointly release 42.6 million barrels of oil from their strategic reserves by January 2027, in an effort to ease pressure on fuel supplies and markets.

"EU member states have reaffirmed their commitment to an accelerated release of 42.6 million barrels from strategic reserves over the next months, and around half of this will be diesel," Jorgensen said.

The 12 countries, including France, Germany and Italy, said in a joint statement that they would release the oil from their strategic reserves by the end of January 2027, including 20.5 million barrels of diesel.

The other European countries involved are Belgium, Denmark, Greece, Latvia, Lithuania, Luxembourg, the Netherlands, Portugal and Sweden.

Meanwhile, talks were held with European refiners on Wednesday to explore ways of boosting fuel production at existing facilities.

The European Commission's latest figures show that the EU's average petrol price stood at €1.954 per litre, while diesel averaged €2.146 per litre in the week of October 26, representing increases of 19.4 and 34.6 percent, respectively, compared with pre-war levels, as European capitals remained silent on or supported the aggression against Iran.