Gasoline prices in the United States have experienced significant fluctuations over the past three decades, with 2024 seeing an average price of 3.3 U.S. dollars per gallon. This marks a notable decrease from the record high of 3.95 U.S. dollars per gallon in 2022, yet remains considerably higher than prices seen in the early 2000s. Despite this, American consumers continue to enjoy relatively low gasoline prices compared to many other countries, with some European countries paying more than double the U.S. average. Drivers in Hawaii and California pay the most at the pump Gasoline prices vary significantly across the United States, with Hawaii and California consistently ranking as the most expensive states for this fuel. As of January 1, 2025, Hawaii's average price for regular gasoline was 4.54 U.S. dollars per gallon, nearly 1.5 dollars above the national average. California's high prices are largely attributed to its steep gasoline taxes, which reached 68.1 U.S. cents per gallon in January 2024. These taxes play a crucial role in shaping retail prices and are typically reinvested in road infrastructure, demonstrating the direct link between fuel costs and transportation development. Patterns in gasoline consumption In a global context, the United States maintains some of the lowest conventional motor fuel prices among high-income countries. This is largely due to its position as the world's largest crude oil producer, allowing it to keep retail prices comparatively low. Despite fluctuations in price, gasoline consumption in the U.S. remains robust, averaging around 8.5 million barrels per day in 2024. Consumption tends to be highest in the summer months and lowest in the winter months due to changing driving behavior.

Natural gas prices are the highest in the residential sector. In 2024, U.S. households paid 14.59 U.S. dollars per 1,000 cubic feet, down from an all-time high of over 15.2 U.S. dollars per 1,000 cubic feet. Overall, U.S. residential natural gas prices have increased nearly tenfold since 1975. Commercial natural gas costs were second-highest, while prices in the electric power sector were the lowest, at around three U.S. dollars on average. Prices for the industrial and electric power customers tend to be close to the wholesale electricity price. The growing natural gas market U.S. natural gas consumption has increased more than any other fuel after the U.S. oil boom of the 2010s. Petroleum consumption has been more variable, and use of coal has significantly decreased. Today, natural gas is used extensively for electric power generation, with it having overtaken coal as the primary electricity generating source. This is despite coal prices being a lot less volatile and generally lower than natural gas. Future of natural gas on the global stage Natural gas is also an important energy source worldwide. It has been the second-largest source of electricity generation since the 2000s and has slowly narrowed the gap to coal, the world's main power source. In 2024, natural gas-powered turbines the world over generated 6,890 terawatt-hours of electricity.

Graph and download economic data for Average Price: Gasoline, Unleaded Regular (Cost per Gallon/3.785 Liters) in U.S. City Average (APU000074714) from Jan 1976 to Sep 2025 about energy, gas, retail, price, and USA.

Natural Gas: Average Commercial Price: New Jersey data was reported at 12.300 USD/1000 Cub ft in Feb 2025. This records a decrease from the previous number of 12.380 USD/1000 Cub ft for Jan 2025. Natural Gas: Average Commercial Price: New Jersey data is updated monthly, averaging 8.770 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 432 observations. The data reached an all-time high of 18.530 USD/1000 Cub ft in Jun 2008 and a record low of 1.940 USD/1000 Cub ft in Aug 2000. Natural Gas: Average Commercial Price: New Jersey data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P012: Natural Gas Prices.

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.

United States Natural Gas: Average Commercial Price: Wisconsin data was reported at 8.150 USD/1000 Cub ft in Feb 2025. This records a decrease from the previous number of 8.160 USD/1000 Cub ft for Jan 2025. United States Natural Gas: Average Commercial Price: Wisconsin data is updated monthly, averaging 6.510 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 434 observations. The data reached an all-time high of 14.630 USD/1000 Cub ft in Jul 2008 and a record low of 3.560 USD/1000 Cub ft in Sep 1995. United States Natural Gas: Average Commercial Price: Wisconsin data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P012: Natural Gas Prices.

United States Natural Gas: Average Commercial Price: Massachusetts data was reported at 14.150 USD/1000 Cub ft in Sep 2025. This records a decrease from the previous number of 15.070 USD/1000 Cub ft for Aug 2025. United States Natural Gas: Average Commercial Price: Massachusetts data is updated monthly, averaging 15.970 USD/1000 Cub ft from Jan 1989 (Median) to Sep 2025, with 438 observations. The data reached an all-time high of 19.120 USD/1000 Cub ft in Aug 2008 and a record low of 3.760 USD/1000 Cub ft in Jul 1992. United States Natural Gas: Average Commercial Price: Massachusetts data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P: Natural Gas Prices.

United States - Consumer Price Index for All Urban Consumers: Utility (Piped) Gas Service in U.S. City Average was 256.67000 Index 1982-84=100 in August of 2025, according to the United States Federal Reserve. Historically, United States - Consumer Price Index for All Urban Consumers: Utility (Piped) Gas Service in U.S. City Average reached a record high of 289.89000 in July of 2008 and a record low of 13.20000 in January of 1952. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Consumer Price Index for All Urban Consumers: Utility (Piped) Gas Service in U.S. City Average - last updated from the United States Federal Reserve on November of 2025.

United States Natural Gas: Average Commercial Price: West Virginia data was reported at 9.810 USD/1000 Cub ft in Feb 2025. This records an increase from the previous number of 9.260 USD/1000 Cub ft for Jan 2025. United States Natural Gas: Average Commercial Price: West Virginia data is updated monthly, averaging 8.650 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 434 observations. The data reached an all-time high of 17.900 USD/1000 Cub ft in Jul 2008 and a record low of 3.510 USD/1000 Cub ft in Jan 2001. United States Natural Gas: Average Commercial Price: West Virginia data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P012: Natural Gas Prices.

United States Natural Gas Exports: Average Price: Pipeline: Mexico data was reported at 3.210 USD/1000 Cub ft in Aug 2018. This records an increase from the previous number of 3.030 USD/1000 Cub ft for Jul 2018. United States Natural Gas Exports: Average Price: Pipeline: Mexico data is updated monthly, averaging 3.115 USD/1000 Cub ft from Jan 1989 (Median) to Aug 2018, with 356 observations. The data reached an all-time high of 11.650 USD/1000 Cub ft in Jun 2008 and a record low of 1.090 USD/1000 Cub ft in Jan 1990. United States Natural Gas Exports: Average Price: Pipeline: Mexico data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P007: Natural Gas Price.

As of August 2025, the average annual price of Brent crude oil stood at 71.3 U.S. dollars per barrel. This is over nine U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

The export of 1,000 cubic feet of natural gas from the United States to Mexico was priced at an average of 5.41 U.S. dollars in 2021. For Canada, this figure stood at 3.87 U.S. dollars. In the period shown, prices fluctuated with an overall decrease between 2008 and 2020. Figures peaked in 2008, the year of the global recession, when natural gas exported by pipeline to Canada was sold at an average price of 8.86 U.S. dollars per thousand cubic feet.

The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of August. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

The 2025 preliminary average annual price of West Texas Intermediate crude oil reached 67.83 U.S. dollars per barrel as of August. This would be nine U.S. dollars below the 2024 average and the lowest annual average since 2021. WTI and other benchmarks WTI is a grade of crude oil also known as “Texas light sweet.” It is measured to have an API gravity of around 39.6 and specific gravity of about 0.83, which is considered “light” relative to other crude oils. This oil also contains roughly 0.24 percent sulfur, and is therefore named “sweet.” Crude oils are some of the most closely observed commodity prices in the world. WTI is the underlying commodity of the Chicago Mercantile Exchange’s oil futures contracts. The price of other crude oils, such as UK Brent crude oil, the OPEC crude oil basket, and Dubai Fateh oil, can be compared to that of WTI crude oil. Since 1976, the price of WTI crude oil has increased notably, rising from just 12.23 U.S. dollars per barrel in 1976 to a peak of 99.06 dollars per barrel in 2008. Geopolitical conflicts and their impact on oil prices The price of oil is controlled in part by limiting oil production. Prior to 1971, the Texas Railroad Commission controlled the price of oil by setting limits on production of U.S. oil. In 1971, the Texas Railroad Commission ceased limiting production, but OPEC, the Organization of Petroleum Exporting Countries with member states Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela among others, continued to do so. In 1972, due to geopolitical conflict, OPEC set an oil embargo and cut oil production, causing prices to quadruple by 1974. Oil prices rose again in 1979 and 1980 due to the Iranian revolution, and doubled between 1978 and 1981 as the Iran-Iraq War prevented oil production. A number of geopolitical conflicts and periods of increased production and consumption have influenced the price of oil since then.

United States Natural Gas: Average Commercial Price: Louisiana data was reported at 11.890 USD/1000 Cub ft in Feb 2025. This records an increase from the previous number of 11.720 USD/1000 Cub ft for Jan 2025. United States Natural Gas: Average Commercial Price: Louisiana data is updated monthly, averaging 8.465 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 434 observations. The data reached an all-time high of 17.010 USD/1000 Cub ft in Jul 2008 and a record low of 4.080 USD/1000 Cub ft in Apr 1992. United States Natural Gas: Average Commercial Price: Louisiana data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P012: Natural Gas Prices.

United States Natural Gas: Average Commercial Price: Montana data was reported at 7.660 USD/1000 Cub ft in Feb 2025. This records an increase from the previous number of 7.560 USD/1000 Cub ft for Jan 2025. United States Natural Gas: Average Commercial Price: Montana data is updated monthly, averaging 7.660 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 434 observations. The data reached an all-time high of 16.810 USD/1000 Cub ft in Aug 2008 and a record low of 3.920 USD/1000 Cub ft in Nov 1997. United States Natural Gas: Average Commercial Price: Montana data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P012: Natural Gas Prices.

Shale gas and tight oil production in the United States is forecast to increase to more than 35 trillion cubic feet by 2050, up from 29.4 trillion cubic feet in 2024. Shale gas refers to natural gas that is trapped within dense shale formations. Tight oil is crude oil contained in such rock formations. It is extracted by drilling wells and pumping a sand, water, and chemical mixture into the rock. The pressure under which the mixture is pushed into fissures cracks the rock open, allowing for the gas and oil to be removed. Origins of U.S. shale gas production The extraction of shale gas and tight oil in the U.S. has increased dramatically since 2000; from about 1.77 trillion cubic feet to over 29 trillion cubic feet in 2024. The economic viability of shale exploration is a result of technological advances in horizontal drilling and hydraulic fracturing (fracking), as well as a surge in oil benchmark prices in the late 2000s and early 2010s. China's fast-growing economy meant it required ever greater amounts of petroleum products, while the largest oil producing body, OPEC, tightly controlled production output in order to push prices higher. This led to the WTI crude oil price climbing to an annual average of nearly 100 U.S. dollars in 2008, despite the onset of the financial crisis. Although early shale pioneer Mitchell Energy had experimented with horizontal drilling and fracking, it took until the 2000s for the technology to hit off. Shale gas production is concentrated primarily in regions such as the Northeast and the Gulf Coast, with Appalachia being the most productive U.S. natural gas region. Fossil fuel reserves in the U.S. The United States had 17.4 trillion cubic meters of proved natural gas reserves, as of 2023. The North American country ranked fourth among the leading countries by proved natural gas reserves. Russia led the ranking with over 44 trillion cubic meters. The same year, U.S. oil reserves amounted to over 47 billion barrels, more than double the amount in 2000.

The annual price of West Texas Intermediate (WTI) crude oil is expected to reach an average of 63.58 U.S. dollars per barrel in 2025, according to an August 2025 forecast. This would be a decrease of roughly 13 U.S. dollar compared to the previous year. In the first eight months of 2025, weekly crude oil prices largely stayed below 70 U.S. dollars per barrel amid trade tariffs and an expected economic downturn. What are benchmark crudes? WTI is often used as a price reference point called a benchmark (or ”marker”) crude. This category includes Brent crude from the North Sea, Dubai Crude, as well as blends in the OPEC reference basket. WTI, Brent, and the OPEC basket have tended to trade closely, but since 2011, Brent has been selling at a higher annual spot price than WTI, largely due to increased oil production in the United States. What causes price volatility? Oil prices are historically volatile. While mostly shaped by demand and supply like all consumer goods, they may also be affected by production limits, a change in U.S. dollar value, and to an extent by market speculation. In 2022, the annual average price for WTI was close to the peak of nearly 100 U.S. dollars recorded in 2008. In the latter year, multiple factors, such as strikes in Nigeria, an oil sale stop in Venezuela, and the continuous increase in oil demand from China were partly responsible for the price surge. Higher oil prices allowed the pursuit of extraction methods previously deemed too expensive and risky, such as shale gas and tight oil production in the U.S. The widespread practice of fracturing source rocks for oil and gas extraction led to the oil glut in 2016 and made the U.S. the largest oil producer in the world.

United States Natural Gas: Average Commercial Price: Texas data was reported at 10.110 USD/1000 Cub ft in Feb 2025. This records an increase from the previous number of 9.430 USD/1000 Cub ft for Jan 2025. United States Natural Gas: Average Commercial Price: Texas data is updated monthly, averaging 6.940 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 433 observations. The data reached an all-time high of 15.120 USD/1000 Cub ft in Jul 2008 and a record low of 3.480 USD/1000 Cub ft in Jul 1991. United States Natural Gas: Average Commercial Price: Texas data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P012: Natural Gas Prices.

United States Natural Gas: Average Commercial Price: New Mexico data was reported at 6.960 USD/1000 Cub ft in Feb 2025. This records an increase from the previous number of 5.010 USD/1000 Cub ft for Dec 2024. United States Natural Gas: Average Commercial Price: New Mexico data is updated monthly, averaging 6.020 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 433 observations. The data reached an all-time high of 15.450 USD/1000 Cub ft in Jul 2008 and a record low of 2.750 USD/1000 Cub ft in Jun 1996. United States Natural Gas: Average Commercial Price: New Mexico data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P012: Natural Gas Prices.