The global fuel energy price index stood at 153.15 index points in May 2025, up from 100 in the base year 2016. Figures decreased that month due to lower heating fuel demand and a fall in crude oil prices. 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. Global ramifications of the Russia-Ukraine war The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.

The average price for regular gasoline in the United States stood at **** U.S. dollars per gallon on June 30, 2025. This compared to a diesel price of **** U.S. dollars per gallon. Prices for gasoline decreased that week following a fall in crude oil prices. 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 2.06 USD/Gal on June 30, 2025, down 0.90% from the previous day. Over the past month, Gasoline's price has fallen 0.23%, and is down 19.84% 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 June of 2025.

U.S. gasoline prices decreased across all major grades in May 2025. Regular gasoline prices fell to 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 2023, annual prices had decreased again slightly, reaching 2013 levels.

Natural gas fell to 3.66 USD/MMBtu on June 30, 2025, down 2.07% from the previous day. Over the past month, Natural gas's price has fallen 0.88%, but it is still 47.76% 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 June of 2025.

At 3.82 U.S. dollars per gallon in October 2022, regular all formulation retail gasoline prices in the United States were considerably lower than in Hong Kong or the Central African Republic, which reported the highest gasoline prices in the world at the end of October 2022. Norway also ranked high this year. Its high gasoline prices might be one of the reasons why the country is leading the charge towards electric mobility. Gas prices in selected countries worldwide Fuel prices in different countries range from a few cents to almost two U.S. dollars per liter. Gasoline is often regarded as a key driver of a country’s economy, as it is the main fuel used in passenger vehicles and the automotive fleets of small and large businesses. The United States is one of the biggest consumers of gasoline on a per capita basis, with approximately 356 gallons of gasoline per person in 2020. Fuel prices respond to crude oil price changes One of the liquid’s main ingredients is crude oil. The spot prices of publicly traded crudes, such as U.S.-sourced WTI (West Texas Intermediate), UK Brent, and the OPEC basket grades, are highly volatile and have proven prone to inflation as of late, most recently due to the novel coronavirus outbreak in China, blockages in the Suez Canal, and the Russian invasion of Ukraine. Where access to oil is limited, this volatility may spur a shift towards alternative propulsion systems and fuels among a growing number of vehicle drivers. Affordability of fuel Gas prices in Europe are counted among the highest worldwide. At 7.6 U.S. dollars per gallon or more, gasoline is particularly expensive in Iceland, Norway, Denmark, Greece, Finland, and the Netherlands. Car drivers in Mozambique and Madagascar feel the most pain at the pump. Some 145.7 percent of a month's wages are needed to fill up a tank in Mozambique. The low affordability of fuel is due to weak currencies, limited wage growth, and a level of prosperity that is yet to meet other markets' standards. The high price in countries such as the Netherlands and Norway is largely attributable to taxes. Other factors driving gas prices include local demand, processing and distribution costs, and the aforementioned level of crude oil prices.

About the ProjectKAPSARC 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 PointsIn 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.

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.

Oil and Gas Storage Service Market Outlook

The global oil and gas storage service market is projected to witness significant growth over the forecast period from 2024 to 2032. In 2023, the market size was estimated to be USD 8.2 billion, and according to a compound annual growth rate (CAGR) of 6.5%, it is forecasted to reach approximately USD 14.4 billion by 2032. This impressive growth trajectory is driven by several factors, including the increasing demand for energy security, strategic petroleum reserves, and the expansion of infrastructure to support fluctuating energy needs. As the global energy landscape evolves, the need for efficient and reliable storage solutions becomes increasingly critical.

One of the primary growth factors for the oil and gas storage service market is the increasing energy consumption worldwide. As global economies expand, the demand for energy, particularly oil and gas, continues to rise, necessitating robust storage solutions to manage supply fluctuations and ensure a steady supply chain. Moreover, geopolitical tensions and trade dynamics significantly influence oil and gas prices, further emphasizing the need for strategic reserves and storage capacity to stabilize markets and mitigate supply risks. This necessity drives investments into storage infrastructure, propelling market growth. Additionally, technological advancements in storage solutions, such as digital monitoring and automation, enhance efficiency and reliability, thus attracting more stakeholders into the market.

Another crucial factor contributing to the growth of the oil and gas storage service market is the shift towards a more sustainable energy ecosystem. Governments and organizations worldwide are increasingly focusing on reducing carbon footprints, promoting the use of cleaner fuels, and ensuring efficient energy utilization. These initiatives require substantial investments in storage technology to optimize supply chains, reduce waste, and improve energy efficiency. Furthermore, the increased focus on natural gas as a transition fuel in the energy mix requires robust storage solutions to accommodate the rising production and consumption levels, thereby fueling market expansion.

The expansion of global trade and commerce also significantly impacts the oil and gas storage service market. As international trade networks become more interconnected, the complexity of supply chains increases, necessitating more sophisticated storage solutions. This growth is further amplified by the strategic importance of oil and gas reserves in ensuring energy security and economic stability. Countries are investing in storage facilities to manage their reserves better, provide a buffer against supply disruptions, and stabilize domestic markets. Moreover, the emergence of new oil and gas exploration sites, particularly in remote and challenging environments, demands advanced storage solutions to manage logistics and distribution effectively, thus driving market growth.

The role of a Commercial Oil Depot in the oil and gas storage service market cannot be understated. These facilities serve as critical nodes in the supply chain, providing essential storage capacity for crude oil and refined products. As global trade intensifies, the strategic placement of commercial oil depots becomes increasingly important to ensure the timely distribution of energy resources. These depots not only facilitate the efficient movement of oil products but also play a pivotal role in stabilizing market prices by acting as buffers against supply disruptions. With advancements in storage technology, commercial oil depots are now equipped with state-of-the-art monitoring systems that enhance operational efficiency and safety, making them indispensable assets in the global energy infrastructure.

Regionally, North America and the Middle East & Africa are expected to be the most significant contributors to the oil and gas storage service market. North America's growth can be attributed to its advanced infrastructure, technological innovations, and an increasing focus on energy independence. The strategic importance of the region's energy reserves, coupled with government policies aimed at enhancing energy security, further supports market expansion. In the Middle East & Africa, abundant hydrocarbon resources and substantial investments in infrastructure development drive the market. Moreover, Asia Pacific is anticipated to witness substantial growth as well, driven by rapid industrialization, increasing energy demand, and the development of strategic

Interactive chart illustrating the history of Henry Hub natural gas prices. The prices shown are in U.S. dollars.

UK Gas fell to 76.96 GBp/thm on June 30, 2025, down 1.29% from the previous day. Over the past month, UK Gas's price has fallen 5.35%, and is down 1.38% compared to the same time last year, 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 June of 2025.

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

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]

In 2024, the global natural gas price index stood at 167.43 index points. This was down from a peak of 521.58 in 2022. Natural gas prices increased significantly in the latter half of 2021 and throughout much of 2022 owing to greater power demand combined with supply constraints. This trend was also reflected in the monthly natural gas price index.

All fuel prices experienced a decrease in prices between January and April 2025. The price index was also lower than at the same time in the previous year. Overall, prices have been notably less volatile throughout 2024 and 2025 when compared to 2021 and 2022.

This dataset comprises fuel prices from over 250 countries including

• gasoline
• diesel
• super

The data ranges from 1999 up to 2020

Crude Oil fell to 64.78 USD/Bbl on July 1, 2025, down 0.50% from the previous day. Over the past month, Crude Oil's price has risen 3.62%, but it is still 21.77% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2025.

The U.S. oil and gas market, a significant contributor to the global energy landscape, is experiencing robust growth, driven by increasing energy demand and a complex interplay of factors. While precise market sizing for the USA alone is absent from the provided data, we can infer substantial value based on the global CAGR of >4.00% and North America's significant role in global oil and gas production. Assuming a similar growth trajectory, and considering the US's considerable share of the North American market, the US oil and gas market size likely exceeds several hundred billion USD in 2025. Key drivers include sustained domestic consumption, ongoing exploration and production activities in shale formations (like the Permian Basin), and government policies aimed at energy independence. Emerging trends include increased investment in renewable energy sources alongside continued fossil fuel reliance, a shift towards more sustainable extraction techniques, and technological advancements improving efficiency and reducing environmental impact. However, regulatory hurdles related to environmental protection, fluctuating global oil prices, and geopolitical instability pose significant restraints on market expansion. The upstream sector, encompassing exploration and production, plays a crucial role, while the midstream segment, focusing on transportation and storage, and the downstream segment, covering refining and marketing, are equally vital components. Major players like Shell, Chevron, ExxonMobil, and ConocoPhillips dominate the market, leveraging advanced technologies and strategic partnerships. The future of the U.S. oil and gas market suggests a continuation of moderate growth, influenced by the global energy transition. While renewable energy adoption is accelerating, the sustained demand for oil and gas in the short to medium term ensures the industry's continued importance. Strategies for sustainable growth will involve increasing efficiency, reducing carbon emissions through carbon capture and storage technologies, and adapting to a changing regulatory environment. Diversification into cleaner energy sources and leveraging advanced analytics to optimize production and supply chains will be crucial for long-term success in this dynamic market. The competitiveness within the industry, particularly amongst the large integrated oil companies, will continue to shape market dynamics, driving innovation and technological advancements. Recent developments include: March 2022: The United States' President Joe Biden agreed to a landmark energy supply deal with the European Union. Under this deal, the United States was expected to increase transatlantic gas deliveries. This deal is important to reduce dependence on Russia after the Russia-Ukraine War., January 2022: The Department of Energy announced the release of 13.4 million barrels of oil from the Strategic Petroleum Reserve. The release of the emergency oil reserves aimed to combat rising gasoline prices in the United States and the lack of oil supply worldwide.. Notable trends are: Upstream Sector Expected Witness Significant Growth.

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.

As per Cognitive Market Research's latest published report, the Global Oil Exploration and Production market size is $3,588.98 Million in 2024 and it is forecasted to reach $5,116.57 Billion by 2031. Oil Exploration and Production Industry's Compound Annual Growth Rate will be 5.20% from 2024 to 2031. Market Dynamics of the Oil Exploration and Production Market

Market Driver for the Oil Exploration and Production Market

The increasing investment in oil sector by several government bodies worldwide elevates the market growth 

Many countries view a stable and secure energy supply as crucial for their economic development and national security. Investing in the oil sector helps ensure a reliable source of energy. Oil exploration and production contribute significantly to the economic growth of a country. Governments often invest in the oil sector to capitalize on the potential for high returns, which can be used to fund public services, infrastructure projects, and other essential programs. Despite efforts to transition to renewable energy sources, the global demand for oil remains high. Governments recognize the need to meet this demand and ensure a stable energy supply to support industrial processes, transportation, and other key sectors. The oil and gas industry encompasses activities linked to exploration, including the search for hydrocarbons, identification of high-potential areas for oil and gas extraction, test drilling, the construction of wells, and initial extraction. According to the Center on Global Energy Policy, data 2023, the 2021–22 period of high oil and gas prices did not lead to a significant increase in capital spending by private companies despite record profits. One exception has been upstream exploration and production (E&P) companies, whose capital spending in 2022 was the highest since 2014.   According to the International Labor Organization (ILO), data 2022, the oil and gas industry makes a significant contribution to the global economy and to its growth and development worldwide. The oil industry alone accounts for almost 3 per cent of global domestic product. The trade in crude oil reached US$640 billion in 2020, making it one of the world’s most traded commodities. Additionally, the industry is highly capital-intensive. Globally investments in oil and gas supply reached more than US$511 billion in 2020. According to the oil and gas industry outlook, data 2023, rapid recovery in demand, and geopolitical developments have driven oil prices to 2014 highs and upstream cash flows to record levels. In 2022, the global upstream industry is projected to generate its highest-ever free cash flows of $1.4 trillion at an assumed average Brent oil price of $106/bbl. Until now, the industry has practiced capital discipline and focused on cash flow generation and pay-out—2022 year-to-date average O&G production is up by 4.5% over the same period last year, while 2022 free cash flows per barrel of production is projected to be higher by nearly 70% over 2021. In addition, high commodity prices and growing concerns over energy security are creating urgency for many to diversify supply and accelerate the energy transition. As a result, clean energy investment by Oil &Gas companies has risen by an average of 12% each year since 2020 and is expected to account for an estimated 5% of total Oil & Gas capex spending in 2022, up from less than 2% in 2020.Therefore, investments made over recent decades enabled the United States to become a world leader in oil and natural gas production. Thus, owing to increased oil production, the demand for oil exploration and production has surged during the past few years.

The rising demand for oil across both commercial and residential sector is expected to drive the market growth 

Oil remains a primary source of energy for transportation, including cars, trucks, ships, and airplanes. The growing global population, urbanization, and increased industrial activity contribute to a rise in the number of vehicles and the overall demand for transportation fuels derived from oil, such as gasoline and diesel. Many industrial processes rely on oil and its by-products as energy sources and raw materials. Industries such as manufacturing, petrochemicals, and construction utilize oil-based products for various applications, including heating, power generation, and the production of pl...