The global fuel energy price index stood at 166.79 index points in May 2025, up from 100 in the base year 2016. Figures increased that month due to greater demand for motor fuels and cooling. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Tariffs bring economic uncertainty With the global economy having adjusted to the effects of the Russia-Ukraine war, new uncertainty has emerged due to tariffs imposed by the Trump administration. If these tariffs are fully implemented, global trade could be significantly disrupted, mainly the bilateral trade between the world’s two largest economies. In 2025, import tariffs between China and the United States exceeded 130 percent on both sides, while their tariffs on imports from the rest of the world were around 10 percent. U.S. tariffs on Chinese imported goods reached a high of 134.7 percent in April of that year, while China imposed a 147.6 percent tariff on U.S. goods. Early estimates indicate that the impact of Trump’s proposed tariffs on the U.S. economy could amount to 0.4 percent of GDP, mainly driven by the reduced trade with Mexico, Canada and China.

The average price for regular gasoline in the United States stood at **** U.S. dollars per gallon on July 28, 2025. This compared to a diesel price of **** U.S. dollars per gallon. Prices for gasoline remained unchanged that week. Real price surge of 2022 and 2023 still below 2011 to 2014 prices When looking at the real price of gasoline over time, U.S. drivers had to pay notably more in the years between 2011 and 2014. The surge in prices noted throughout 2022 and partly for 2023, which followed supply constraints, was still lower in terms of real U.S. dollars. U.S. on the lower-end spectrum of worldwide motor fuel prices The U.S. has some of the lowest conventional motor fuel prices in the world. Although fuel prices are usually higher in high-income countries, the U.S. profits from its position as the world’s largest crude oil producer and can keep retail prices for oil products comparatively low. For example, among high-income countries, prices for automotive premium gasoline (RON 95) were only lower in Russia and Saudi Arabia - countries where crude oil and oil product exports are in part restricted by sanctions, thus keeping domestic supply high.

Gasoline fell to 2.11 USD/Gal on August 1, 2025, down 2.93% from the previous day. Over the past month, Gasoline's price has fallen 0.36%, and is down 9.53% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on August of 2025.

The global natural gas price index stood at 200.29 index points in June 2025. Natural gas prices increased that month as cooling demand increased. The global price index takes into account indices from Europe, Japan, and the United States – some of the largest natural gas trading markets. The U.S. is the leading natural gas exporter in the world. Means of trading natural gas Liquefied natural gas (LNG) is the most common form of trading natural gas. Although piped gas is often the preferred choice for transportation between neighboring producing and consuming countries, seaborne trade as LNG has grown in market volume. This is in part thanks to high consumption in pipeline-inaccessible areas such Japan, Korea, and China, as well as the recent increase in LNG trade by European countries. Major natural gas price benchmarks The natural gas prices often used as global benchmarks are Europe’s Dutch TTF traded on the Intercontinental Exchange, Indonesian LNG in Japan, and the U.S. Henry Hub traded on the New York Mercantile Exchange. 2022 was an especially volatile year for natural gas prices, as supply was severely constrained following sanctions on Russian imports. Other reasons for recent spikes in gas prices are related to issues at refineries, changes in demand, and problems along seaborne supply routes.

Natural gas rose to 3.09 USD/MMBtu on August 1, 2025, up 0.10% from the previous day. Over the past month, Natural gas's price has fallen 11.31%, but it is still 57.26% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on August of 2025.

Graph and download economic data for Global price of Natural gas, EU (PNGASEUUSDM) from Jan 1990 to Jun 2025 about EU, gas, World, Europe, and price.

Hong Kong had the highest prices for premium gasoline (95-RON) on May 12, 2025. That day, prices averaged 3.44 U.S. dollars per liter, which was notably more than in any other country. While oil-rich countries enjoy some of the lowest gasoline prices, drivers in big car markets such as Europe pay around 2 U.S. dollars per liter.

About the Project

KAPSARC is analyzing the shifting dynamics of the global gas markets. Global gas markets have turned upside down during the past five years: North America has emerged as a large potential future LNG exporter while gas demand growth has been slowing down as natural gas gets squeezed between coal and renewables. While the coming years will witness the fastest LNG export capacity expansion ever seen, many questions are raised on the next generation of LNG supply, the impact of low oil and gas prices on supply and demand patterns and how pricing and contractual structure may be affected by both the arrival of U.S. LNG on global gas markets and the desire of Asian buyers for cheaper gas.

Key Points

In the past year, global gas prices have dropped significantly, albeit at unequal paces depending on the region. All else being equal, economists would suggest that this should have generated a positive demand response. However, “all else” was not equal. Prices of other commodities also declined while economic growth forecasts were downgraded.

Prices at benchmark points such as the U.K. National Balancing Point (NBP), U.S. Henry Hub (HH) and Japan/Korea Marker (JKM) slumped due to lower oil prices, liquefied natural gas (LNG) oversupply and unseasonal weather. Yet, the prices of natural gas in local currencies have increased in a number of developing countries in Africa, the Middle East, Latin America, former Soviet Union (FSU) and Asia.

North America experienced demand growth while gas in Europe and Asia faced rising competition from cheaper coal, renewables and, in some instances, nuclear. Gains to European demand were mostly weather related while increases in Africa and Latin America were not significant.

For LNG, Europe became the market of last resort as Asian consumption declined. Moreover, an anticipated surge in LNG supply, brought on by several new projects, may lead to a confrontation with Russian or other pipeline gas suppliers to Europe. At the same time, Asian buyers are seeking concessions on pricing and flexibility in their long-term contracts.

Looking ahead, natural gas has to prove itself a credible and affordable alternative to coal, notably in Asia, if the world is to reach its climate change targets. The future of the gas industry will also depend on oil prices, evolution of Chinese energy demand and impact of COP21 on national energy policies. Current low prices mean there is likely to be a pause in final investment decisions (FIDs) on LNG projects in the coming years.

UK Gas fell to 83.25 GBp/thm on August 1, 2025, down 4.14% from the previous day. Over the past month, UK Gas's price has risen 4.94%, but it is still 7.33% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on August of 2025.

TTF Gas fell to 33.80 EUR/MWh on August 1, 2025, down 3.98% from the previous day. Over the past month, TTF Gas's price has risen 1.48%, but it is still 7.79% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on August of 2025.

In 2024, the industrial natural gas price in the United States was 3.93 U.S. dollars per thousand cubic feet. This was a decrease compared to the previous year. In 2008, the U.S. price of natural gas for industry peaked at 9.65 U.S. dollars per thousand cubic feet as a result of the Great Recession. Despite the increase in natural gas prices for the industry sector in recent years, natural gas prices for other sectors were much higher. Regional price variations across U.S. hubs Natural gas prices can vary significantly across different regions of the United States. In 2024, the Waha trading hub in the Permian basin recorded the lowest spot prices due to its proximity to productive oil and gas wells and limited pipeline capacity. Meanwhile, the Henry Hub, which serves as the U.S. natural gas benchmark, averaged 2.2 U.S. dollars per million British thermal units in 2024. Looking ahead, forecasts suggest that Henry Hub prices could more than double by 2026, driven by increased demand. Industry natural gas prices around the world Switzerland has some of the highest natural gas prices for the industrial sector. U.S. prices are especially low in comparison to European countries, which rely on imports. U.S. industrial natural gas consumers paid around one fourth of the price paid by Swiss consumers.

Graph and download economic data for Global price of LNG, Asia (PNGASJPUSDM) from Jan 1992 to Jun 2025 about Asia, World, and price.

Snapshot img

The floating liquefied natural gas market share is expected to increase by USD 4.68 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.12%.

This floating liquefied natural gas market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers floating liquefied natural gas market segmentations by processing capacity (large-scale capacity and small-scale capacity) and geography (North America, Europe, APAC, South America, and MEA). The floating liquefied natural gas market report also offers information on several market vendors, including Black & Veatch Holding Co., Eni Spa , Excelerate Energy LP, EXMAR NV, Golar LNG Ltd., Lloyds Energy DMCC, Petroliam Nasional Berhad , Royal Dutch Shell Plc, Samsung Heavy Industries Co. Ltd., and TechnipFMC Plc among others.

What will the Floating Liquefied Natural Gas Market Size be During the Forecast Period?

Download Report Sample to Unlock the Floating Liquefied Natural Gas Market Size for the Forecast Period and Other Important Statistics

Floating Liquefied Natural Gas Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising global oil and gas consumption is notably driving the floating liquefied natural gas market growth, although factors such as fluctuations in oil and gas prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the floating liquefied natural gas industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Floating Liquefied Natural Gas Market Driver

Rising global oil and gas consumption is one of the key factors driving the growth of the global floating liquefied natural gas market. Liquid fuel consumption across the globe, especially in emerging economies such as India, China, and Brazil, is expected to grow, owing to the increasing demand for vehicles and a rise in the consumption of petrochemicals. For instance, according to the US Energy Information Administration (EIA), in 2019, the production of petroleum and other liquid fuels in Brazil averaged 3.7 million barrels per day (b/d). Similarly, natural gas consumption has also seen a rise in the last ten years. According to the US Energy Information Administration (EIA), global natural gas consumption increased significantly in 2019. Natural gas has witnessed a higher rise in consumption than oil due to the increasing adoption of natural gas as a fuel. Also, with the increased consumption of fuel from developing economies such as India and China, the demand for LNG is likely to propel during the forecast period, thereby increasing the demand for FLNG projects during the forecast period.

Key Floating Liquefied Natural Gas Market Trend

The rise in the number of deepwater and ultra-deepwater drilling projects will fuel the global floating liquefied natural gas market growth. As per the US Energy Information Administration, the oil shock resulted in the decline of crude oil prices in early 2020 due to the COVID-19 pandemic, which was one of the lowest since 2003. Also, the prices of the rigs were reduced due to the fewer number of ongoing projects in the oil and gas industry. Sensing profit through low rig rates, some companies are resuming their offshore projects. FLNG vessels provide the advantages of reduced investments and earlier cash flow compared with fixed platforms. The advantages of FLNG vessels make them ideal for offshore activities. Deepwater and ultra-deepwater projects are also far from the mainland; hence, laying an extensive oil and gas pipeline network to transfer the produced hydrocarbons to onshore facilities is too costly. Therefore, FLNG vessels are economical for deepwater and ultra-deepwater projects, as these vessels can treat, liquefy, and store the natural gas extracted from offshore fields. Operators sell the LNG directly from the vessel and generate revenues. Advances in technology allowed exploring gas reserves that were initially uneconomical. This is likely to drive the global FLNG market during the forecast period.

Key Floating Liquefied Natural Gas Market Challenge

Fluctuations in oil and gas prices are major challenges for the global floating liquefied natural gas market growth. The continued trend of low crude oil prices has put additional pressure on the oil and gas service providers. Low-profit margins for a continued period result in reduced revenues, which directly influence the financial aspect of a company. The market potential for oil and gas service businesses has declined due to the low investments in oil and gas

This dataset provides values for GASOLINE PRICES reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Saudi Arabia Fuel Prices: Retail: Gasoline 91 data was reported at 2.180 SAR/l in Apr 2025. This stayed constant from the previous number of 2.180 SAR/l for Mar 2025. Saudi Arabia Fuel Prices: Retail: Gasoline 91 data is updated monthly, averaging 2.180 SAR/l from Jul 2020 (Median) to Apr 2025, with 58 observations. The data reached an all-time high of 2.180 SAR/l in Apr 2025 and a record low of 1.290 SAR/l in Jul 2020. Saudi Arabia Fuel Prices: Retail: Gasoline 91 data remains active status in CEIC and is reported by Saudi Arabian Oil Company. The data is categorized under Global Database’s Saudi Arabia – Table SA.P016: Fuel Prices. [COVID-19-IMPACT]

Natural Gas Price: Non-Households: excl VAT: Annual Consumption: Up to 1000 GJ data was reported at 16.254 EUR/GJ in Dec 2024. This records an increase from the previous number of 12.983 EUR/GJ for Jun 2024. Natural Gas Price: Non-Households: excl VAT: Annual Consumption: Up to 1000 GJ data is updated semiannually, averaging 11.247 EUR/GJ from Dec 2007 (Median) to Dec 2024, with 35 observations. The data reached an all-time high of 32.136 EUR/GJ in Dec 2022 and a record low of 6.377 EUR/GJ in Jun 2020. Natural Gas Price: Non-Households: excl VAT: Annual Consumption: Up to 1000 GJ data remains active status in CEIC and is reported by Statistics Lithuania. The data is categorized under Global Database’s Lithuania – Table LT.P002: Natural Gas Price: by Annual Consumption.

UK oil and gas production has diminished over the past decade because old oil fields have matured while developing new commercially viable sources has become increasingly challenging. To combat this, extractors have pooled their resources and formed partnerships to enhance efficiency, while some have benefitted from previous investments in fields coming onstream. Oil and gas extracting companies also reaped the rewards of an upsurge in global prices through 2022-23, leading to sharp revenue growth. However, this quickly turned around in 2023-24, with most major companies’ revenue nosediving along with oil prices, as growing global oil and gas from America flooded the market, slightly outpacing demand. Revenue is expected to expand at a compound annual rate of 3.4% over the five years through 2024-25 to just over £33 billion. This includes a forecast hike of 5.3% in 2024-25; however, profit is slated to inch downward over the year as global oil and gas prices remain somewhat flat in the second half of 2024-25. Global oil and gas prices greatly affect the industry's performance, with the Organisation of the Petroleum Exporting Countries (OPEC) putting supply cuts in place and global tensions resulting in price peaks and troughs. In October 2022, OPEC instituted a supply cut of two million barrels of crude oil per day, driving Brent Crude Oil prices up to US$110 (£87.80) per barrel, which has been extended until March 2025, with a ramping up period through September 2025. This is set to keep oil prices stable by limiting global oil supplies in the face of growing production in non-OPEC countries. The sanctions on Russian oil and gas imports because of the Russia-Ukraine conflict add further impetus to prices. The EU has banned imports of Russian-made oil and gas, providing opportunities for UK exporters. Crude oil prices remain high, but significant oil production from non-OPEC countries threatening a glut in the oil market and a significant dip in global demand (especially from China) has made oil prices plummet since July 2024. Despite mounting tensions in the Middle East having the potential to cut oil supply from the region, the ongoing political tensions have yet to significantly impact global prices, with prices hiking up around 10% in the month to October 2024 but remaining relatively low. Oil and gas prices are likely to continue inching downwards in the coming years as the US is forecast to continue ramping up the global oil and gas supply. This, along with an expected drop in global demand for oil and gas in the long term, will limit growth. The UK government will implement policies to create a more favourable environment for extractors and further investment in the North Sea to improve UK energy security. However, the depletion of natural resources, the expensive cost of extraction, low gas and oil prices and the global energy transition will threaten the industry's long-term viability. The government announced a delay to the ban on the sale of new petrol and diesel cars, along with the relaxation of some net-zero policies in September 2023, which should keep fossil fuel explorers afloat for longer. Revenue is forecast to climb at a compound annual rate of 3.4% over the five years through 2029-30 to just over £39 billion.

Natural Gas Refueling Stations Market Outlook

The global natural gas refueling stations market size is anticipated to experience significant growth from 2023 to 2032, driven by a compound annual growth rate (CAGR) of 7.2%. In 2023, the market was valued at approximately USD 9.5 billion and is projected to reach an impressive USD 18.1 billion by 2032. This upward trajectory is primarily fueled by the increasing adoption of natural gas as an alternative fuel source, which is perceived as a cleaner, more sustainable option compared to traditional fossil fuels. The momentum is further supported by stringent environmental regulations and rising fuel prices, which have prompted stakeholders across various sectors to seek more cost-effective and eco-friendly energy solutions.

One of the primary growth factors for the natural gas refueling stations market is the escalating environmental concerns that have resulted in governments around the world implementing strict emission norms. Natural gas, being a cleaner alternative, emits significantly lower levels of harmful pollutants such as nitrogen oxides, sulfur dioxide, and particulate matter compared to diesel and gasoline. This advantage is driving the expansion of natural gas infrastructure, especially in urban areas where air quality issues are most acute. Additionally, numerous countries have introduced incentives for the establishment of natural gas refueling stations, further propelling market growth. These incentives include tax rebates, grants, and subsidies, making it financially viable for investors to develop the necessary infrastructure.

The transportation sector's shift towards natural gas is another critical catalyst for market growth. As the sector accounts for a substantial portion of global greenhouse gas emissions, transitioning to natural gas vehicles (NGVs) presents a viable solution to curb environmental impact. With major automotive manufacturers increasing the production of NGVs, the demand for refueling stations is concurrently rising. Furthermore, heavy-duty vehicles such as buses and trucks, which consume large amounts of fuel, are increasingly adopting natural gas due to its cost-effectiveness and efficiency. This shift is particularly notable in regions with high freight volumes, where logistics companies are looking to reduce operational costs while aligning with sustainability goals.

Another significant factor contributing to the market's growth is technological advancements in storage and refueling technologies. Innovations in compressed natural gas (CNG) and liquefied natural gas (LNG) technologies have improved the efficiency and convenience of refueling processes, thereby encouraging more widespread adoption of natural gas as a fuel source. These advancements include faster refueling times, increased storage capacity, and enhanced safety measures, addressing some of the previous barriers to entry for both consumers and businesses. Such technological progress not only supports the expansion of existing infrastructure but also lowers the cost of entry for new market participants.

Station Type Analysis

In examining the natural gas refueling stations market by station type, we observe two primary categories: Compressed Natural Gas (CNG) stations and Liquefied Natural Gas (LNG) stations. CNG stations are more prevalent in urban and suburban settings owing to their ability to cater to a wide range of vehicles, from light-duty cars to buses and trucks. The infrastructure for CNG stations is generally less costly compared to LNG, which makes them an attractive option for both public and private investment. Additionally, CNG is perceived as a safer option due to its lower volatility, which has contributed to its popularity in densely populated areas where safety is a paramount concern.

Liquefied Natural Gas (LNG) stations, on the other hand, are primarily used in applications requiring high energy density, such as heavy-duty freight and maritime transport, where long-distance travel necessitates a more compact form of natural gas. The LNG market is growing steadily, driven by the increasing adoption of natural gas in sectors looking to significantly reduce emissions, such as shipping and industrial heavy machinery. While the initial setup cost for LNG stations is higher due to the need for cryogenic storage and handling, the benefits of higher energy content and longer travel range make it a preferred choice for specific applications.

The choice between CNG and LNG stations is often dictated by regional policies and natural gas availability. For instance, regions with abundant natural gas r

U.S. gasoline prices changed little in June 2025 when compared to the month before. Regular gasoline prices remained at an average of 3.15 U.S. dollars per gallon. In the period of consideration, gasoline prices reached their highest level in June 2022. Differences in fuel grades Fuel grades at U.S. gas stations are differentiated by octane level. Higher grade fuels have higher octane levels, meaning that the fuel can be compressed more in the engine. This enables high-performance engines to create more power. Fuel may also vary from state to state and pump to pump. Some cities also have regulations on gasoline in order to improve air quality. Bioethanol is added to gasoline in some cases to meet the renewable fuel standard. Gasoline-run engines are able to run on blends with a bioethanol percentage of up to 25 percent. Gasoline prices reach historic high Primarily a result of the Russia-Ukraine war and inflation, the annual retail price of gasoline reached a new historic high in 2022, climbing to nearly four U.S. dollars per gallon. By 2024, annual prices had decreased again slightly, reaching 2014 levels.

Snapshot img

Compressed Natural Gas (CNG) Market Size 2025-2029

The compressed natural gas (cng) market size is forecast to increase by USD 32.28 billion, at a CAGR of 9% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing number of CNG-powered vehicles and the expansion of natural gas supply infrastructure. The surge in CNG vehicle adoption is a result of environmental concerns and the need to reduce dependence on traditional fossil fuels. Additionally, the fluctuating global oil and gas prices have made natural gas an attractive alternative fuel source. However, the market faces challenges, including the high initial investment costs for CNG infrastructure and the limited availability of refueling stations in certain regions. Furthermore, the volatility of natural gas prices can impact the profitability of CNG as a fuel option.
Companies seeking to capitalize on the opportunities in this market should focus on expanding their CNG infrastructure and collaborating with vehicle manufacturers to promote the adoption of CNG-powered vehicles. Navigating the challenges will require strategic partnerships and investments in technology to optimize the efficiency and cost-effectiveness of CNG production and distribution.

What will be the Size of the Compressed Natural Gas (CNG) Market during the forecast period?

Request Free Sample

The market continues to evolve, with dynamic market patterns unfolding across various sectors. CNG processing technologies are advancing, enabling the conversion of natural gas into a transportable form for diverse applications. CNG trucks are gaining traction in commercial transportation, offering cost savings and energy security. In the public transportation sector, CNG buses are reducing carbon footprints and contributing to clean energy initiatives. CNG taxis are emerging as a sustainable alternative to traditional taxis, while CNG cryogenic storage solutions ensure efficient and safe fuel management. Energy security is a significant driver, with CNG's potential to reduce reliance on traditional fossil fuels and contribute to renewable energy integration.
Innovation is at the forefront, with advancements in CNG fuel efficiency, leak detection, metering, and fleet management systems. Biofuel applications are expanding, offering further sustainability benefits. Regulations and incentives shape the market landscape, influencing CNG adoption and infrastructure development. CNG supply and distribution networks are evolving, with pipelines and refueling stations expanding to meet growing demand. Safety remains a priority, with ongoing research and development in fire suppression, vaporization, and safety regulations. The CNG market's continuous dynamism underscores its potential as a viable alternative fuel source.

How is this Compressed Natural Gas (CNG) Industry segmented?

The compressed natural gas (cng) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  LDV
  MDV and HDV


Source

  Non associated gas
  Unconventional gas
  Associated gas


Distribution Channel

  Refueling Stations
  Virtual Pipelines


Tank Type

  Type 1
  Type 2
  Type 3
  Type 4


Vehicle Types

  Light-Duty
  Heavy-Duty
  Buses


Geography

  North America

    US
    Mexico


  Europe

    France
    Italy
    Norway


  Middle East and Africa

    Egypt
    Iran
    Qatar
    UAE


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Application Insights

The ldv segment is estimated to witness significant growth during the forecast period.

The market in the US is witnessing significant growth as businesses and public entities adopt this clean, domestic alternative fuel for various applications. CNG is increasingly being used in public transportation, with cities like Los Angeles, New York, and Seattle leading the way in converting their bus fleets to CNG. CNG fueling stations are expanding to meet the demand, with over 1,500 stations currently in operation. CNG is also gaining popularity in commercial transportation, particularly for heavy-duty vehicles like trucks and buses, due to its cost savings and energy security benefits. The US Department of Energy estimates that CNG costs about 30% less than gasoline or diesel, making it an attractive option for fleet operators.

CNG is also a domestically produced resource, reducing dependence on foreign oil and contributing to energy independence. In the residential sector, CNG is being used for heating and cooking applications, particularly in areas with abundant natural gas resources. CNG is also being used in emergency response vehicles and renewable energy systems. C