The prices of fossil fuels increased considerably in 2022 as a result of supply disruptions and rising energy demand. While the crude oil price in 2022 did not reach the levels of the 1979 or 2008 price shocks, natural gas prices rose to record highs.

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.

Graph and download economic data for Average Price: Gasoline, All Types (Cost per Gallon/3.785 Liters) in U.S. City Average (APU00007471A) from Jan 1978 to Aug 2025 about energy, gas, retail, price, and USA.

As of May 2025, the average price for premium gasoline in Germany was around 176.9 euro cents per liter. This was a slight decrease compared to the year before.

New Zealand Average Fuel Price: Natural Gas: Residential data was reported at 0.196 NZD/kWh in Dec 2024. This records an increase from the previous number of 0.155 NZD/kWh for Sep 2024. New Zealand Average Fuel Price: Natural Gas: Residential data is updated quarterly, averaging 0.060 NZD/kWh from Mar 1979 (Median) to Dec 2024, with 184 observations. The data reached an all-time high of 0.222 NZD/kWh in Mar 2018 and a record low of 0.016 NZD/kWh in Jun 1979. New Zealand Average Fuel Price: Natural Gas: Residential data remains active status in CEIC and is reported by Ministry of Business, Innovation and Employment. The data is categorized under Global Database’s New Zealand – Table NZ.P003: Average Fuel Price.

TTF Gas rose to 33.39 EUR/MWh on October 7, 2025, up 0.85% from the previous day. Over the past month, TTF Gas's price has risen 0.99%, but it is still 13.40% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas TTF - values, historical data, forecasts and news - updated on October of 2025.

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.

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.

Graph and download economic data for Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Norway (CPGREN01NOA657N) from 1979 to 2023 about Norway, fuels, electricity, energy, gas, CPI, price index, indexes, and price.

Graph and download economic data for Average Price: Utility (Piped) Gas per Therm in Houston-The Woodlands-Sugar Land, TX (CBSA) (APUS37B72620) from Mar 1979 to Nov 2024 about Houston, utilities, energy, urban, TX, retail, price, and USA.

Ireland - Gas prices: Medium size households was EUR35.31 Gigajoule (gross calorific value - GCV) in December of 2024, according to the EUROSTAT. Trading Economics provides the current actual value, an historical data chart and related indicators for Ireland - Gas prices: Medium size households - last updated from the EUROSTAT on October of 2025. Historically, Ireland - Gas prices: Medium size households reached a record high of EUR40.70 Gigajoule (gross calorific value - GCV) in December of 2023 and a record low of EUR13.79 Gigajoule (gross calorific value - GCV) in December of 2010.

United States Consumer Price: Average: SU: Utility (Piped) Gas data was reported at 1.229 USD/Therm in Jun 2018. This records a decrease from the previous number of 1.240 USD/Therm for May 2018. United States Consumer Price: Average: SU: Utility (Piped) Gas data is updated monthly, averaging 0.777 USD/Therm from Nov 1978 (Median) to Jun 2018, with 475 observations. The data reached an all-time high of 1.834 USD/Therm in Nov 2005 and a record low of 0.336 USD/Therm in Jan 1979. United States Consumer Price: Average: SU: Utility (Piped) Gas data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.P001: Consumer Price.

United States - Average Price: Utility (Piped) Gas per Therm in the South Census Region - Size Class A was 1.98700 Index in December of 2024, according to the United States Federal Reserve. Historically, United States - Average Price: Utility (Piped) Gas per Therm in the South Census Region - Size Class A reached a record high of 2.07400 in October of 2022 and a record low of 0.35500 in July of 1979. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Average Price: Utility (Piped) Gas per Therm in the South Census Region - Size Class A - last updated from the United States Federal Reserve on September of 2025.

United States Consumer Price: Average: SU: Utility (Piped) Gas, 100 Therms data was reported at 111.041 USD in Jun 2013. This records an increase from the previous number of 109.581 USD for May 2013. United States Consumer Price: Average: SU: Utility (Piped) Gas, 100 Therms data is updated monthly, averaging 63.713 USD from Nov 1978 (Median) to Jun 2013, with 415 observations. The data reached an all-time high of 178.090 USD in Nov 2005 and a record low of 29.697 USD in Jan 1979. United States Consumer Price: Average: SU: Utility (Piped) Gas, 100 Therms data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.P001: Consumer Price.

New Zealand Ave Fuel Price: 2021 Price: Natural Gas: Commercial data was reported at 0.080 NZD/kWh in Dec 2022. This records an increase from the previous number of 0.076 NZD/kWh for Sep 2022. New Zealand Ave Fuel Price: 2021 Price: Natural Gas: Commercial data is updated quarterly, averaging 0.057 NZD/kWh from Mar 1979 (Median) to Dec 2022, with 176 observations. The data reached an all-time high of 0.097 NZD/kWh in Dec 2007 and a record low of 0.044 NZD/kWh in Jun 1985. New Zealand Ave Fuel Price: 2021 Price: Natural Gas: Commercial data remains active status in CEIC and is reported by Ministry of Business, Innovation and Employment. The data is categorized under Global Database’s New Zealand – Table NZ.P007: Average Fuel Price: 2021 Price.

The USA: Revenue minus production cost of natural gas, percent of GDP: The latest value from 2021 is 0.36 percent, an increase from 0 percent in 2020. In comparison, the world average is 0.81 percent, based on data from 181 countries. Historically, the average for the USA from 1970 to 2021 is 0.36 percent. The minimum value, 0 percent, was reached in 1970 while the maximum of 1.82 percent was recorded in 1979.

Graph and download economic data for Producer Price Index by Commodity: Fuels and Related Products and Power: Unleaded Regular Gasoline (WPS057104) from Jan 1979 to Aug 2025 about fuels, gas, commodities, PPI, inflation, price index, indexes, price, and USA.

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 U.S. auto industry sold nearly ************* cars in 2024. That year, total car and light truck sales were approximately ************ in the United States. U.S. vehicle sales peaked in 2016 at roughly ************ units. Pandemic impact The COVID-19 pandemic deeply impacted the U.S. automotive market, accelerating the global automotive semiconductor shortage and leading to a drop in demand during the first months of 2020. However, as demand rebounded, new vehicle supply could not keep up with the market. U.S. inventory-to-sales ratio dropped to its lowest point in February 2022, as Russia's war on Ukraine lead to gasoline price hikes. During that same period, inflation also impacted new and used car prices, pricing many U.S. consumers out of a market with increasingly lower car stocks. Focus on fuel economy The U.S. auto industry had one of its worst years in 1982 when customers were beginning to feel the effects of the 1973 oil crisis and the energy crisis of 1979. Since light trucks would often be considered less fuel-efficient, cars accounted for about ** percent of light vehicle sales back then. Thanks to improved fuel economy for light trucks and cheaper gas prices, this picture had completely changed in 2020. That year, prices for Brent oil dropped to just over ** U.S. dollars per barrel. The decline occurred in tandem with lower gasoline prices, which came to about **** U.S. dollars per gallon in 2020 - and cars only accounted for less than one-fourth of light vehicle sales that year. Four years on, prices are dropping again, after being the highest on record since 1990 in 2022.

Norway Consumer Price Index (CPI): Housing, Water, Electricity, Gas & Other Fuels: Electricity, Gas & Fuel: Electricity data was reported at 190.800 1998=100 in 2015. This records a decrease from the previous number of 198.100 1998=100 for 2014. Norway Consumer Price Index (CPI): Housing, Water, Electricity, Gas & Other Fuels: Electricity, Gas & Fuel: Electricity data is updated yearly, averaging 100.000 1998=100 from Dec 1979 (Median) to 2015, with 37 observations. The data reached an all-time high of 236.800 1998=100 in 2010 and a record low of 28.300 1998=100 in 1979. Norway Consumer Price Index (CPI): Housing, Water, Electricity, Gas & Other Fuels: Electricity, Gas & Fuel: Electricity data remains active status in CEIC and is reported by Statistics Norway. The data is categorized under Global Database’s Norway – Table NO.I008: Consumer Price Index: 1998=100: Annual. Rebased from 1998=100 to 2015=100 Replacement series ID: 384055717