Natural gas increased 0.21 USD/MMBtu or 5.84% since the beginning of 2025, 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 March of 2025.

The average monthly price for natural gas in the United States amounted to 3.02 nominal U.S. dollars per million British thermal units (Btu) in December 2024. By contrast, natural gas prices in Europe were about four times higher than those in the U.S. Prices for 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 70 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 60 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 one trillion cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Natural gas prices are the highest in the residential sector. In 2023, U.S. households paid an all time high average of 15.2 U.S. dollars per 1,000 cubic feet. Commercial natural gas costs were second-highest, while prices in the electric power sector were the lowest, at around four U.S. dollars on average. Prices for the industrial and electric power customers tend to be close to the wholesale electricity price. All sectors saw a year-on-year increase in natural gas prices in 2022 due to the decline in U.S. natural gas production in the first quarter of 2022, which resulted in high withdrawals of natural gas from storage and an increase in average natural gas prices. The growing natural gas market In recent years, the average natural gas prices for all sectors have been increasing in the United States. In 2022, the residential sector witnessed an increase in natural gas prices higher than 2008, while natural gas prices for other sectors were still lower despite increases in average natural gas prices for those sectors. Meanwhile, consumption of natural gas has increased more than any other fuel type following the 2008 Recession. Petroleum consumption has been more variable, and use of coal has significantly decreased. The price of coal and crude oil had already been increasing since the early 2000s, and was further exacerbated by the financial crisis. Around the same time, the cost of natural gas dropped significantly, making it a more viable economic alternative compared to other fossil fuels. This decrease was in part the result of drastically increased production of shale gas as a result of hydraulic fracturing and other techniques.

Graph and download economic data for Henry Hub Natural Gas Spot Price (DHHNGSP) from 1997-01-07 to 2025-03-24 about natural resources, gas, price, and USA.

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Natural Gas: Average Commercial Price: Colorado data was reported at 8.310 USD/1000 Cub ft in Dec 2024. This records an increase from the previous number of 8.250 USD/1000 Cub ft for Nov 2024. Natural Gas: Average Commercial Price: Colorado data is updated monthly, averaging 7.045 USD/1000 Cub ft from Jan 1989 (Median) to Dec 2024, with 432 observations. The data reached an all-time high of 16.700 USD/1000 Cub ft in Sep 2022 and a record low of 3.320 USD/1000 Cub ft in Dec 1996. Natural Gas: Average Commercial Price: Colorado 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 2023, the price of natural gas in Europe reached 13.1 constant U.S. dollars per million British thermal units, compared with 2.5 U.S. dollars in the U.S. This was a notable decrease compared to the previous year, which had seen a steep increase in prices due to an energy supply shortage exacerbated by the Russia-Ukraine war. Since 1980, natural gas prices have typically been higher in Europe than in the United States and are expected to remain so for the coming two years. This is due to the U.S. being a significantly larger natural gas producer than Europe.

What is natural gas and why is it gaining ground in the energy market? Natural gas is commonly burned in power plants with combustion turbines that generate electricity or used as a heating fuel. Given the fact that the world’s energy demand continues to grow, natural gas was seen by some industry leaders as an acceptable "bridge-fuel" to overcome the use of more emission-intensive energy sources such as coal. Subsequently, natural gas has become the main fuel for electricity generation in the U.S., while the global gas power generation share has reached 22 percent.

How domestic production shapes U.S. natural gas prices The combination of hydraulic fracturing (“fracking”) and horizontal drilling can be regarded as one of the oil and gas industry’s biggest breakthroughs in decades, with the U.S. being the largest beneficiary. This technology has helped the industry release unprecedented quantities of gas from deposits, mainly shale and tar sands that were previously thought either inaccessible or uneconomic. It is forecast that U.S. shale gas production could reach 35 trillion cubic feet in 2050, up from 1.77 trillion cubic feet in 2000.

Natural Gas: Average Commercial Price: Kentucky data was reported at 8.720 USD/1000 Cub ft in Dec 2024. This records a decrease from the previous number of 10.370 USD/1000 Cub ft for Nov 2024. Natural Gas: Average Commercial Price: Kentucky data is updated monthly, averaging 8.660 USD/1000 Cub ft from Jan 1989 (Median) to Dec 2024, with 432 observations. The data reached an all-time high of 19.370 USD/1000 Cub ft in Aug 2008 and a record low of 3.970 USD/1000 Cub ft in Jun 1993. Natural Gas: Average Commercial Price: Kentucky 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.

Natural Gas: Average Commercial Price: Tennessee data was reported at 10.850 USD/1000 Cub ft in Nov 2024. This records an increase from the previous number of 9.460 USD/1000 Cub ft for Oct 2024. Natural Gas: Average Commercial Price: Tennessee data is updated monthly, averaging 8.450 USD/1000 Cub ft from Jan 1989 (Median) to Nov 2024, with 425 observations. The data reached an all-time high of 17.600 USD/1000 Cub ft in Nov 2005 and a record low of 4.200 USD/1000 Cub ft in May 1989. Natural Gas: Average Commercial Price: Tennessee 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.

Natural Gas: Average Residential Price: Nevada data was reported at 13.190 USD/1000 Cub ft in Dec 2024. This records a decrease from the previous number of 14.750 USD/1000 Cub ft for Nov 2024. Natural Gas: Average Residential Price: Nevada data is updated monthly, averaging 10.255 USD/1000 Cub ft from Jan 1989 (Median) to Dec 2024, with 432 observations. The data reached an all-time high of 27.380 USD/1000 Cub ft in Aug 2023 and a record low of 4.960 USD/1000 Cub ft in Jan 1993. Natural Gas: Average Residential Price: Nevada 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.

The state with the highest price of natural gas for industry in 2023 was Hawaii, standing at 28.4 U.S. dollars per thousand cubic feet, a decrease when compared to the previous year. During the same year, Texas had the lowest industrial natural gas price in the country, at 2.7 U.S. dollars per thousand cubic feet. Meanwhile, the average natural gas price for industry in the U.S. stood at 7.9 U.S. dollars per thousand cubic feet in 2022.

In 2023, the industrial natural gas price in the United States was 4.59 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.

During the last quarter of 2024, the natural gas prices in the USA reached 2742 USD/MT in December. Strong demand and geopolitical factors contributed to the steady rise in natural gas prices. Alongside inflation in LNG shipments to Europe and Mexico, the market was under pressure due to the increased need for heating caused by colder weather.

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Household prices for natural gas in the United States reached 15.2 nominal U.S. dollars per thousand cubic feet in 2023, representing the highest price during the period in consideration. This was due to the the extreme winter weather events and freeze-offs in the United States which resulted in a decline in natural gas production.

Natural Gas: Average Residential Price: South Carolina data was reported at 13.770 USD/1000 Cub ft in Dec 2024. This records a decrease from the previous number of 18.010 USD/1000 Cub ft for Nov 2024. Natural Gas: Average Residential Price: South Carolina data is updated monthly, averaging 12.280 USD/1000 Cub ft from Jan 1989 (Median) to Dec 2024, with 432 observations. The data reached an all-time high of 30.020 USD/1000 Cub ft in Aug 2007 and a record low of 6.270 USD/1000 Cub ft in Apr 1992. Natural Gas: Average Residential Price: South Carolina 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.

Natural Gas: Average Commercial Price: Maryland data was reported at 11.930 USD/1000 Cub ft in Dec 2024. This records a decrease from the previous number of 14.760 USD/1000 Cub ft for Nov 2024. Natural Gas: Average Commercial Price: Maryland data is updated monthly, averaging 9.625 USD/1000 Cub ft from Jan 1989 (Median) to Dec 2024, with 432 observations. The data reached an all-time high of 19.900 USD/1000 Cub ft in Aug 2022 and a record low of 4.630 USD/1000 Cub ft in Apr 1992. Natural Gas: Average Commercial Price: Maryland 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.

Countries in Europe have some of the highest natural gas prices for the industry in the world. In the second quarter of 2024, industrial customers in Switzerland paid approximately 0.16 U.S. dollars per megawatt hour worth of natural gas. This was considerably higher than the price of gas in natural gas producing countries such as Russia and Algeria. Determining natural gas prices Like other commodities, natural gas prices are driven by supply and demand trends. In some instances, they may also reflect developments within the oil market, as both commodities are often produced together. Natural gas prices are volatile. Seeing as the consumption of natural gas is often without alternative (e.g. within power plants), short-term changes to supply and demand have huge repercussions for the market. Weather is also a common determinant of natural gas prices. Unprecedented heat waves in the U.S. have driven up electricity demand for air conditioning and affected weekly Henry Hub natural gas prices in the hotter summer months. Natural gas demand Primary energy demand generated by natural gas worldwide is highest in North America. Nevertheless, forecasts suggest that the Asia Pacific region will experience a doubling in such demand by 2050 and overtake consumers in North America. The United States is still leading a ranking of world natural gas consumption by country. However, China has increased its LNG and gas pipeline investment portfolio, which could see it becoming an even greater consumer in the future.

The global natural gas price index stood at 232.28 index points in February 2025. Natural gas prices increased by seven index points that month. 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.

The size of the North America Natural Gas Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.00% during the forecast period. The North American natural gas market is exhibiting dynamic growth, not only owing to high domestic production coupled with rising consumption but also a growing trend toward cleaner sources of energy. Today, the United States is the world's largest producer of natural gas, largely because of the breakthrough in shale extraction technologies that have opened up vast reserves. This has resulted in the United States becoming the world's largest liquefied natural gas exporter. Most particularly, it makes use of incredibly high demand in markets such as Asia and Europe. Canada has considerable natural gas reserves, pipelines, and other infrastructure, supporting both the export of gas to the U.S. and international markets, besides providing domestic energy supply. ALCANICA: Canada is also focusing on the development of LNG export facilities to meet growing demand worldwide. As environmental concerns go up, natural gas becomes a bridge fuel-a source to help in the process of moving away from coal and supporting renewable integration. The issues affecting the market here include price volatility, regulatory barriers, and increased competition due to renewable energy. This should continue to be accompanied by growth in North America's natural gas market, as production capacity is strong, and investments being made in infrastructure are supported within a shifting energy mix that increasingly is suited for cleaner fuels. Recent developments include: In July 2022, Sempra Infrastructure signed an agreement with Mexico's Federal Electricity Commission to advance the joint development of critical energy infrastructure projects in Mexico, including the rerouting of the Guaymas-El Oro pipeline in Sonora, the proposed Vista Pacífico LNG project in Topolobampo, Sinaloa, and the potential development of a liquefied natural gas (LNG) terminal in Salina Cruz, Oaxaca.. Key drivers for this market are: 4., Growing Demand for Renewable Energy4.; Upcoming Investments in the Energy Sector and Supportive Renewable Energy Policies. Potential restraints include: 4., High Initial Investment Cost and Long Investment Return Period on Projects. Notable trends are: Power generation to Dominate the Market.

Winter natural gas prices in the United States are forecast to see a notable increase in 2022/23. U.S. consumers are expected to pay an average of 15.95 U.S. dollars per thousand cubic feet of natural gas. This would mean an increase of over two U.S. dollars and comes in the wake of many countries and regions currently embattled in an energy supply shortage.