The 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of June. 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.

Natural gas prices (US) in , June, 2025 For that commodity indicator, we provide data from January 1960 to June 2025. The average value during that period was 2.41 USD per million British thermal units with a minimum of 0.14 USD per million British thermal units in January 1960 and a maximum of 13.52 USD per million British thermal units in October 2005. | TheGlobalEconomy.com

In June 2025, one gallon of diesel cost an average of 3.6 U.S. dollars in the United States. That was an increase compared to the month prior, but lower than prices in June 2024. Impact of crude prices on motor fuel consumer prices Diesel prices are primarily determined by the cost of crude oil. In fact, crude oil regularly accounts for around 50 percent of end consumer prices of diesel. As such, supply restrictions or weak demand outlooks influence prices at the pump. The fall in diesel prices noted in the latter half of 2024 is a reflection of lower crude prices. Diesel and gasoline price development The usage of distillate fuel oil began in the 1930s, but until further development in the 1960s, diesel vehicles were mostly applied to commercial use only. In the U.S., diesel-powered cars remain a fairly small portion of the automobile market and diesel consumption is far lower than gasoline consumption. In general, gasoline also tends to be more widely available than diesel fuel and usually sells for a lower retail price. However, diesel engines have better fuel economy than gasoline engines and, as such, tend to be used for large commercial vehicles.

The cost of diesel fuel in the United States reached an annual average of 3.76 U.S. dollars per gallon in 2024. This was a decrease compared to the previous year, when diesel sold for an average of 4.21 U.S. dollars per gallon. In 2022, increased economic activity and thus fuel demand combined with supply constraints following the Russia-Ukraine war, which resulted in a notable rise in monthly diesel prices Crude oil prices and their impact on motor fuel prices Motor fuel prices largely mirror major oil benchmarks, such as the OPEC reference basket, WTI, and Brent. As such, the oil glut in 2015 and 2016, which followed years of increased oil production output by the U.S., is largely responsible for the fall in diesel prices seen in those years. The same is true for the 2020 pandemic-induced oil crisis and fall in benchmarks that year. Diesel and gasoline price development The usage of diesel began in the 1930s, but until further development in the 1960s, diesel vehicles were mostly used commercially. In the U.S., diesel-powered cars remain a fairly small portion of the automobile market and diesel fuel consumption is far lower than gasoline consumption. In general, gasoline also tends to be more widely available than diesel fuel and usually sells for a lower retail price. However, diesel engines have better fuel economy than gasoline engines, and as such are often used for large commercial vehicles.

Graph and download economic data for Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for United States (CPGREN01USM657N) from Jan 1960 to Dec 2023 about fuels, electricity, energy, gas, CPI, price index, indexes, price, and USA.

End- Use Price Of Natural Gas Consumed In Utah T4.16 1960-2012

Natural gas prices (Europe) in , June, 2025 For that commodity indicator, we provide data from January 1960 to June 2025. The average value during that period was 4.85 USD per million British thermal units with a minimum of 0.38 USD per million British thermal units in January 1964 and a maximum of 70.04 USD per million British thermal units in August 2022. | TheGlobalEconomy.com

As of June 2025, the average annual price of Brent crude oil stood at 71.91 U.S. dollars per barrel. This is over eight 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.

Iran GDP: Basic Prices: Oil & Gas data was reported at 2,003,814.000 IRR bn in 2018. This records an increase from the previous number of 1,564,127.000 IRR bn for 2017. Iran GDP: Basic Prices: Oil & Gas data is updated yearly, averaging 2,056.864 IRR bn from Mar 1960 (Median) to 2018, with 59 observations. The data reached an all-time high of 2,003,814.000 IRR bn in 2018 and a record low of 34.029 IRR bn in 1960. Iran GDP: Basic Prices: Oil & Gas data remains active status in CEIC and is reported by Central Bank of the Islamic Republic of Iran. The data is categorized under Global Database’s Iran – Table IR.A012: GDP: Basic Price: by Industry: Current Price: Annual.

The United States reported some 17.4 trillion cubic meters in natural gas reserves in 2023. This was an increase of four percent compared to the previous year. Increasing amounts of proved natural gas reserves in the United States correspond with a global trend as production techniques develop and further appraisals and discoveries are made. The U.S. natural gas industry expands As oil prices rose after the 2008 Recession, natural gas consumption increased as markets turned to a more affordable source of fuel. Low-interest rates and a temporarily destabilized oil market gave investors greater incentive to develop unconventional methods of gas extraction, such as horizontal drilling and hydraulic fracturing. These developments made it more cost-effective to extract from natural gas reserves deep underground that were previously hard to reach. The rise of shale gas Implementation of hydraulic fracturing, also called “fracking,” has led to an unprecedented increase in the production of shale gas in the United States. Heightened interest in natural gas and expanded extraction capabilities have contributed to greater exploration of previously unattainable source rocks in the United States and abroad.

Indonesia GDP: SNA 1953: 1960p: Electricity, Gas & Water Supply data was reported at 4.000 IDR bn in 1973. This stayed constant from the previous number of 4.000 IDR bn for 1972. Indonesia GDP: SNA 1953: 1960p: Electricity, Gas & Water Supply data is updated yearly, averaging 1.950 IDR bn from Dec 1960 (Median) to 1973, with 14 observations. The data reached an all-time high of 4.000 IDR bn in 1973 and a record low of 1.100 IDR bn in 1960. Indonesia GDP: SNA 1953: 1960p: Electricity, Gas & Water Supply data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Indonesia – Table ID.AA005: Gross Domestic Product: By Industry: Constant Price.

Graph and download economic data for Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Japan (CPGREN01JPA657N) from 1960 to 2020 about fuels, electricity, energy, gas, Japan, CPI, price index, indexes, and price.

Iran GDP: Basic Prices: Non Oil: Industries & Mining: Electricity, Gas & Water Supply data was reported at 641,743.100 IRR bn in 2018. This records an increase from the previous number of 576,266.000 IRR bn for 2017. Iran GDP: Basic Prices: Non Oil: Industries & Mining: Electricity, Gas & Water Supply data is updated yearly, averaging 342.506 IRR bn from Mar 1960 (Median) to 2018, with 59 observations. The data reached an all-time high of 641,743.100 IRR bn in 2018 and a record low of 0.885 IRR bn in 1960. Iran GDP: Basic Prices: Non Oil: Industries & Mining: Electricity, Gas & Water Supply data remains active status in CEIC and is reported by Central Bank of the Islamic Republic of Iran. The data is categorized under Global Database’s Iran – Table IR.A012: GDP: Basic Price: by Industry: Current Price: Annual.

Abstract copyright UK Data Service and data collection copyright owner. The International Energy Agency (IEA) datasets published by the Energy Statistics Division (ESD) contain annual, quarterly and monthly time series data from 1960 onwards on energy production, trade, stocks, transformation, consumption, prices and taxes as well as on greenhouse gas emissions for the OECD Member countries and non-OECD countries world-wide. In OECD Member countries the data is collected by official bodies (most often the national statistics office in each country) from firms, government agencies and industry organisations and are then reported to the IEA using questionnaires to ensure international comparability. In non-OECD countries the data is collected directly from government and industry contacts and from national publications. The International Energy Agency (IEA) Energy Prices and Taxes database contains a major international compilation of energy prices at all market levels: import prices, industry prices and consumer prices. The statistics cover import costs and export prices of main petroleum products, natural gas and coal in Organisation for Economic Co-operation and Development (OECD) countries. End-user prices and taxes for selected petroleum, gas and coal products as well as for electricity are provided for industry, electricity generation and households for OECD countries and a selection of non-OECD countries. Full notes on sources and methods and a description of price mechanisms in each country are included. Time series availability varies with each data series. In general, end-user prices and taxes start in 1978, import costs in 1980 and spot prices in 1982. This database is updated by the IEA in January, April, July and October of each year. These data were first provided by the UK Data Service in June 2005 and is updated quarterly.

Iran GDP: 1997-98p: Basic Prices: Oil & Gas data was reported at 31,962.000 IRR bn in 2013. This records a decrease from the previous number of 48,501.000 IRR bn for 2012. Iran GDP: 1997-98p: Basic Prices: Oil & Gas data is updated yearly, averaging 41,926.041 IRR bn from Mar 1960 (Median) to 2013, with 54 observations. The data reached an all-time high of 82,173.059 IRR bn in 1974 and a record low of 13,497.403 IRR bn in 1981. Iran GDP: 1997-98p: Basic Prices: Oil & Gas data remains active status in CEIC and is reported by Central Bank of the Islamic Republic of Iran. The data is categorized under Global Database’s Iran – Table IR.A019: GDP: Basic Price: by Industry: 1997-98 Price: Annual. Rebased from 1997-98p to 2004-05p Replacement series ID: 355637187

Graph and download economic data for Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Italy (CPGREN01ITQ657N) from Q2 1960 to Q3 2023 about Italy, fuels, electricity, energy, gas, CPI, price index, indexes, and price.

As of 2025, the average consumer price of light heating oil in Germany was around 95.84 euro cents per liter. Prices fluctuated during the specified time period and were noticeably higher in 2022. Like fuel prices, heating oil prices are important cost factors for consumers.

Graph and download economic data for Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for France (CPGREN01FRM657N) from Feb 1960 to Nov 2023 about France, fuels, electricity, energy, gas, CPI, price index, indexes, and price.

Iran GDP: 2004-05p: Basic Prices: Industries and Mining: Electricity, Gas & Water Supply data was reported at 34,777.000 IRR bn in 2015. This records an increase from the previous number of 32,360.000 IRR bn for 2014. Iran GDP: 2004-05p: Basic Prices: Industries and Mining: Electricity, Gas & Water Supply data is updated yearly, averaging 5,065.769 IRR bn from Mar 1960 (Median) to 2015, with 56 observations. The data reached an all-time high of 34,777.000 IRR bn in 2015 and a record low of 66.088 IRR bn in 1960. Iran GDP: 2004-05p: Basic Prices: Industries and Mining: Electricity, Gas & Water Supply data remains active status in CEIC and is reported by Central Bank of the Islamic Republic of Iran. The data is categorized under Global Database’s Iran – Table IR.A017: GDP: Basic Price: by Industry: 2004-05 Price: Annual.

Graph and download economic data for Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Switzerland (CPGREN01CHA657N) from 1960 to 2023 about Switzerland, fuels, electricity, energy, gas, CPI, price index, indexes, and price.