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.

Canadian drivers should expect to pay more at a gas station as economic conditions begin to improve after the pandemic.

On April 20th, 2020, the price of West Texas Intermediate crude oil slumped into negative for the first time in history, falling to negative 37.63 U.S. dollars per barrel. The ongoing coronavirus pandemic has had a catastrophic impact on the global oil and gas industry. Declining consumer demand and high levels of production output are threatening to exceed oil storage capacities, which resulted in the lowest ever oil prices noted between April 20th and April 22nd.

For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated Fact and Figures page.

In the second quarter of 2022, the average retail price for a gallon of regular gasoline stood at around 4.49 U.S. dollars, up from the previous quarter. A glut in oil supply between 2014 and 2016 forced down prices and led to a low average U.S. gasoline price of roughly 1.9 U.S. dollars per gallon in the first quarter. Gasoline prices fluctuated considerably between 2019 and 2020 as a result of tensions between the United States and other oil exporters, such as Iran, and stifling oil demand during the Covid-19 pandemic. The price of West Texas Intermediate briefly dipped in the negative in April 2020. Seasonal price variations
There are periodic fluctuations in gasoline prices in the United States, where the second and third quarters are typically more expensive than the rest of the year. One of the factors contributing to changing gasoline prices is a decrease in production from refineries due to maintenance work in tandem with an increase in demand, as holiday goers make road-trips. Gasoline will revert to cheaper winter-grade in September. Annual motor vehicle consumption in the United States was around 128 billion gallons as of 2020.

This data package includes the underlying data files to replicate the data, tables, and charts presented in The influence of gasoline and food prices on consumer expectations and attitudes in the COVID era, PIIE Policy Brief 24-3.

Monthly average retail prices for gasoline and fuel oil for Canada, selected provincial cities, Whitehorse and Yellowknife. Prices are presented for the current month and previous four months. Includes fuel type and the price in cents per litre.

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]

Russia's Gazprom estimated that the coronavirus (COVID-19) pandemic would lead to a decrease in export prices of the company's natural gas in 2020, ranging between 120 and 130 U.S. dollars per thousand cubic meters of gas. In 2019, Gazprom's revenue from gas exports to non-CIS countries reached nearly 41 billion U.S. dollars.

Avg Retail Price: Regular Gasoline: Northwest Territories: Yellowknife data was reported at 162.700 0.01 CAD/l in Mar 2025. This records an increase from the previous number of 162.400 0.01 CAD/l for Feb 2025. Avg Retail Price: Regular Gasoline: Northwest Territories: Yellowknife data is updated monthly, averaging 109.500 0.01 CAD/l from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 208.100 0.01 CAD/l in Jun 2022 and a record low of 58.900 0.01 CAD/l in Jan 1990. Avg Retail Price: Regular Gasoline: Northwest Territories: Yellowknife data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.P016: Gasoline Price at Self Service Filling Stations. [COVID-19-IMPACT]

Between 2002 and 2023, prices of OPEC Reference Basket oils fluctuated dramatically. For example, Saharan Blend from Algeria stood at some 25 U.S. dollars per barrel in 2002. Ten years later, this figure had increased to more than 111 U.S. dollars. In 2023, it stood at 83.64 U.S. dollars. Oil prices: a rollercoaster ride Oil prices are inherently volatile due to the speculative nature of their price determination. Thus, sudden economic and geopolitical events may have big influences on pricing. For example, some of the major factors behind price fluctuation since the 2000s have been the global financial crisis in 2008, the 2020 coronavirus pandemic, and the energy supply crisis and subsequent Russia-Ukraine war in 2022. As a result, the OPEC crude oil price have oscillated between lows of 40 U.S. dollars and highs of 110 U.S. dollars. Shale oil overproduction leads to 2010 oil glut The 2010s price crash was caused in part by ever-growing production of domestic shale and tight oil in the United States. Though nearly 80 percent of global oil reserves can be found in OPEC countries, the United States has become the largest producer of oil worldwide in the last ten years.

Avg Retail Price: Premium Gasoline: Saskatchewan: Regina data was reported at 178.300 0.01 CAD/l in Mar 2025. This records a decrease from the previous number of 181.200 0.01 CAD/l for Feb 2025. Avg Retail Price: Premium Gasoline: Saskatchewan: Regina data is updated monthly, averaging 105.900 0.01 CAD/l from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 225.200 0.01 CAD/l in Jun 2022 and a record low of 45.700 0.01 CAD/l in Jun 1991. Avg Retail Price: Premium Gasoline: Saskatchewan: Regina data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.P016: Gasoline Price at Self Service Filling Stations. [COVID-19-IMPACT]

The average monthly price for natural gas in the United States amounted to **** nominal U.S. dollars per million British thermal units (Btu) in May 2025. By contrast, natural gas prices in Europe were about three times higher than those in the U.S. Prices in Europe tend to be notably higher than those in the U.S. as the latter benefits from being a major hydrocarbon producer. Europe's import reliance European prices for natural gas rose most notable throughout the second half of 2021 and much of 2022, peaking at over ** U.S. dollars per million Btu in August 2022. The sharp rise was due to supply chain issues and economic strain following the COVID-19 pandemic, which was further exacerbated by Russia’s invasion of Ukraine in early 2022. As a result of the war, many countries began looking for alternative sources, and Russian pipeline gas imports to the European Union declined as a result. Meanwhile, LNG was a great beneficiary, with LNG demand in Europe rising by more than ** percent between 2021 and 2023. How domestic natural gas production shapes prices As intimated, the United States’ position among the leaders of worldwide natural gas production is one of the main reasons for why prices for this commodity are so low across the country. In 2023, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Learn about the various factors that affect the price of ammonia gas including supply and demand, production costs, and government regulations. Find out why changes in these factors can result in fluctuations in ammonia gas prices and how its use in industries such as fertilizers, chemicals, and pharmaceuticals impact its price. Discover the current average price of ammonia gas and how the COVID-19 pandemic has affected the global ammonia market.

In 2020, the decline in the global coal market gathered momentum, against the Covid-19 pandemic. The low cost of natural gas, combined with the development of alternative energy sources and stricter environmental regulations, are pushing the coal energy sector into stagnation. In the medium term, only the metallurgical industry is set to see a stable demand for coal.

Europe’s petroleum and natural gas extraction support services’ revenue is forecast to contract at a compound annual rate of 3.8% over the five years through 2024 to €62.1 billion. Widespread disruption caused by the COVID-19 pandemic weighed heavily on extraction and exploration activity in downstream oil and gas markets as poor demand conditions caused prices to plummet, disincentivising new investment and causing support service contractors to offer price concessions to customers, compounding the industry’s weak revenue performance and weighing on profitability. Demand has increased since lockdown restrictions eased, supporting revenue over 2021 and 2022. Russia’s invasion of Ukraine led to significant price increases in both oil and gas due to supply uncertainties. This also led to Norway becoming Europe’s largest natural gas supplier in 2022, supporting revenue opportunities for Norwegian contractors. Norway has also increased the level of investment into new oil and gas fields to alleviate uncertainties regarding supply following trade restrictions placed on Russian oil and gas. Nonetheless, weakening demand and falling oil and gas prices have contributed to an expected revenue slump of 20.3% in 2024. Over the five years through 2029, revenue is forecast to climb at a compound annual rate of 7% to €87.2 billion. New investments into oil and gas fields will provide contractors with new revenue opportunities, supporting revenue growth and expanding profitability. However, ongoing efforts across Europe to meet environmental and emissions targets, like net zero by 2050, will continue to threaten demand for oil and gas, somewhat limiting revenue growth.

Avg Retail Price: Premium Gasoline: Newfoundland and Labrador: St. John's data was reported at 174.300 0.01 CAD/l in Mar 2025. This records a decrease from the previous number of 178.000 0.01 CAD/l for Feb 2025. Avg Retail Price: Premium Gasoline: Newfoundland and Labrador: St. John's data is updated monthly, averaging 109.300 0.01 CAD/l from Jan 1990 (Median) to Mar 2025, with 423 observations. The data reached an all-time high of 225.600 0.01 CAD/l in Jun 2022 and a record low of 61.100 0.01 CAD/l in Jan 1990. Avg Retail Price: Premium Gasoline: Newfoundland and Labrador: St. John's data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.P016: Gasoline Price at Self Service Filling Stations. [COVID-19-IMPACT]

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The oil and gas drilling automation market share is expected to increase by USD 206.7 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 1.64%.

This oil and gas drilling automation 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 oil and gas drilling automation market segmentation by application (onshore and offshore) and geography (North America, Europe, APAC, MEA, and South America). The oil and gas drilling automation market report also offer information on several market vendors, including ABB Ltd., Akastor ASA, Ensign Energy Services Inc., Honeywell International Inc., Kongsberg Gruppen ASA, Nabors Industries Ltd., National Oilwell Varco Inc., Rockwell Automation Inc., Schlumberger Ltd., and Siemens AG among others.

What will the Oil And Gas Drilling Automation Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Oil and Gas Drilling Automation Market Size for the Forecast Period and Other Important Statistics

'Offshore rigs are equipped with cybernetics systems to improve equipment manipulation and automate key processes such as pipe handling, jacking, and fixation. Therefore, the recovery in crude oil prices is expected to drive the adoption of O&G drilling automation solutions globally during the forecast period.'

Oil And Gas Drilling Automation Market: Key Drivers, Trends, and Challenges

The O&G price recovery is notably driving the oil and gas drilling automation market growth, although factors such as high ownership costs 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 oil and gas drilling automation industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Oil And Gas Drilling Automation Market Driver

O&G price recovery is a major driver fueling the oil and gas drilling automation market growth. Since 2019, the moderate recovery in crude oil prices has spurred growth in oil and gas (O&G) extraction projects in countries such as the US, Saudi Arabia, Oman, and Kuwait. Rapid fluctuations in crude oil prices adversely impacted the economic activities in oil-dependent regions such as the Middle East during 2016-2019. Owing to factors such as the limited production of crude oil in key oil-producing countries, such as the US and Russia, and geopolitical factors, such as the US-China trade war, oil prices witnessed considerable stability in 2019. Additionally, the restoration of oil production facilities in Saudi Arabia to full capacity is expected to cater to the global demand for O&G at stable prices during the forecast period.Owing to rapid advances in automation and system integration technologies, automated drilling solutions are finding increased adoption in onshore and offshore oil and gas sites. Offshore rigs are equipped with cybernetics systems to improve equipment manipulation and automate key processes such as pipe handling, jacking, and fixation. Therefore, the recovery in crude oil prices is expected to drive the adoption of O&G drilling automation solutions globally during the forecast period.

Key Oil And Gas Drilling Automation Market Trend

The adoption of IoT technology is the major trend influencing the oil and gas drilling automation market growth. The adoption of the internet of things (IoT) devices for in-depth monitoring and data capturing in the O&G industry is improving the overall efficiency of O&G operations. With crude oil prices registering considerable recovery over the last two years, rig operators and oil producers are emphasizing optimizing the energy efficiency of oilfields. IoT devices are being increasingly used in the O&G industry for a range of applications, including drilling management, pipeline testing, and monitoring, among others. IoT enables oil rig operators and refineries to monitor key performance parameters such as pipe pressure and flow rate. Additionally, IoT ensures accurate and real-time data collection at locations that are not easily accessible. Smart devices provide notifications in advance to operators about any drilling errors or incorrect measurements, thereby minimizing the requirement for routine manual inspections. Advances in connected technologies such as low-power wide-area networks (LPWAN) enable connectivity between monitoring sensors in remote offshore applications. Therefore, the rising adoption of IoT in drilling activities is expected to drive the growth of the global O&G drilling automation market during the forecast period.

Key Oil And Gas Drilling Automation Market Challenge

High ownership costs are a major hindrance to the oil and gas drill

Data Set of the Manuscript Titled "A Modified Uncertain Maximum Likelihood Estimation with Applications in Uncertain Statistics"

According to Cognitive Market Research, the global Natural Gas Liquids market size will be USD 17542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 7016.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5262.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4034.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 877.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 350.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
The ethane category is the fastest growing segment of the Natural Gas Liquids industry

Market Dynamics of Natural Gas Liquids Market

Key Drivers for Natural Gas Liquids Market

Increasing Petrochemical Industry to Boost Market Growth

The market for natural gas liquids (NGL) is mostly driven by the expanding petrochemical sector. Natural gas liquids (NGLs) like ethane, propane, and butane are vital raw materials for the synthesis of petrochemicals like ethylene and propylene, which are extensively utilized in the creation of synthetic materials, chemicals, and plastics. The need for NGLs is rising due to the petrochemical industry's explosive growth, particularly in North America and Asia. The utilization of NGLs in a variety of applications is growing as a result of growing industrialization and technological developments in chemical processing. The global need for consumer goods, packaging, and industrial materials is driving the petrochemical industry's growth, which in turn will fuel the NGL market's long-term growth.

The Surge in Shale Gas Production to Drive Market Growth

The market for natural gas liquids (NGL) is growing as a result of increased shale gas output. Production of NGLs, including ethane, propane, and butane, has expanded because of the spike in shale gas extraction, especially in North America, through horizontal drilling and hydraulic fracturing technology. These liquids are frequently left over after natural gas from shale formations is extracted. In order to fulfill growing global demand, the U.S. shale boom has improved export prospects and supported local NGL supplies. The supply of NGLs is directly increased by the ongoing expansion of shale gas production, which fosters the long-term growth of the NGL market by meeting the increasing demand from sectors such as transportation, energy, and petrochemicals.

Restraint Factor for the Natural Gas Liquids Market

Price Volatility for Crude Oil Will Limit Market Growth

The volatility of crude oil prices severely constrains

The natural gas liquids (NGL) market. Because NGLs are frequently extracted in conjunction with crude oil and natural gas, changes in oil prices have an immediate effect on how profitable it is to produce NGLs. Oil and gas companies may cut back on drilling when crude oil prices drop, which lowers the output of NGLs. Furthermore, a decline in oil prices may increase the appeal of alternative energy sources, which would lessen the market for NGLs. On the other hand, sudden spikes in oil prices can cause market instability and increase the operational expenses for NGL producers. It is difficult for NGL market participants to sustain consistent growth because of this price volatility, which also makes long-term planning more difficult and causes investor concern.

Impact of Covid-19 on the Natural Gas Liquids Market

The COVID-19 pandemic had a substantial effect on the natural gas liquids (NGL) market because it caused supply chain disruptions on a worldwide scale, decreased energy consumption, and a steep reduction in industrial activity. Lockdowns and limitations reduced the demand for NGLs, especially in the transportation and petrochemical sectors, which are big users of butane, propane, and ethane. The demand for NGLs as alter...