Countries in Europe have some of the highest natural gas prices for the industry in the world. In the first quarter of 2025, industrial customers in Switzerland paid approximately 0.17 U.S. dollars per kilowatt hour worth of natural gas. This was considerably higher than the price of gas in natural gas producing countries such as Russia. 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.

Natural gas rose to 4.94 USD/MMBtu on December 3, 2025, up 2.04% from the previous day. Over the past month, Natural gas's price has risen 13.71%, and is up 62.29% compared to the same time last year, 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 December of 2025.

The global natural gas price index stood at 174.31 index points in September 2025. Natural gas prices decreased that month as cooling demand fell due to colder weather than expected. 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 as 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.

Natural gas prices decreased across all major regions in 2024, as supply caught up to higher demand. In Japan, LNG sold for an average of **** nominal U.S. dollars per million British thermal units. Meanwhile, the United States, as the largest natural gas producer worldwide, has significantly lower prices for the fossil fuel. The U.S. has had lower natural gas prices than Europe for much of the past four decades. LNG on the rise LNG is expected to shape much of future natural gas trade. Although pipelines have been the preferred method of transportation for many decades, as Europe shifts away from Russia as its main gas supplier, LNG has become more in demand. The global LNG trade volume has already exceeded *** billion cubic meters per year, and is expected to continue growing. Countries in Asia have some of the highest landed prices for liquefied natural gas worldwide. Natural gas benchmarks Some of the most closely followed natural gas price benchmarks are the U.S. Henry Hub and the Dutch TTF. The former is an important indicator of the state of the natural gas industry in the U.S., while the latter reflects natural gas market developments in Europe and potential repercussions for consumers.

The average monthly price for natural gas in the United States amounted to *** nominal U.S. dollars per million British thermal units (Btu) in October 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 2024. 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 2024, the U.S. produced more than ************ cubic meters of natural gas, which allays domestic demand and allows for far lower purchasing prices.

Graph and download economic data for Global price of Natural Gas, US Henry Hub Gas (PNGASUSUSDM) from Jan 1991 to Jun 2025 about henry hub, gas, World, and price.

In 2024, the global natural gas price index stood at 167.43 index points. This was down from a peak of 521.58 in 2022. Natural gas prices increased significantly in the latter half of 2021 and throughout much of 2022 owing to greater power demand combined with supply constraints. This trend was also reflected in the monthly natural gas price index.

UK Gas fell to 72.60 GBp/thm on December 2, 2025, down 1.67% from the previous day. Over the past month, UK Gas's price has fallen 11.75%, and is down 40.33% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. UK Natural Gas - values, historical data, forecasts and news - updated on December of 2025.

TTF Gas fell to 27.92 EUR/MWh on December 3, 2025, down 0.17% from the previous day. Over the past month, TTF Gas's price has fallen 14.22%, and is down 40.94% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. EU Natural Gas - values, historical data, forecasts and news - updated on December of 2025.

Natural Gas: Average Commercial Price: Rhode Island data was reported at 14.860 USD/1000 Cub ft in Feb 2025. This records a decrease from the previous number of 18.230 USD/1000 Cub ft for Jan 2025. Natural Gas: Average Commercial Price: Rhode Island data is updated monthly, averaging 11.935 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 432 observations. The data reached an all-time high of 23.650 USD/1000 Cub ft in Aug 2023 and a record low of 4.220 USD/1000 Cub ft in Sep 1991. Natural Gas: Average Commercial Price: Rhode Island 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: 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.

Natural Gas: Average Commercial Price: Mississippi data was reported at 11.250 USD/1000 Cub ft in Feb 2025. This records an increase from the previous number of 10.760 USD/1000 Cub ft for Jan 2025. Natural Gas: Average Commercial Price: Mississippi data is updated monthly, averaging 7.835 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 434 observations. The data reached an all-time high of 16.720 USD/1000 Cub ft in Oct 2005 and a record low of 2.610 USD/1000 Cub ft in Sep 1995. Natural Gas: Average Commercial Price: Mississippi 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.

Graph and download economic data for Global price of Natural gas, EU (PNGASEUUSDQ) from Q1 1990 to Q2 2025 about EU, gas, Europe, World, and price.

Global Fuel Prices Database provides monthly retail fuel prices of regular gasoline (research octane number, RON, below 95), premium gasoline (RON of 95 or above), diesel, kerosene, LPG for automobiles, bottled LPG, heating oil, and HFO for the period between December 2015 and April 2025. The database relies on publicly available information. For countries that regulate fuel prices, the author manually collected monthly price announcements from the websites or social media of petroleum agencies, ministry of finance, ministry of energy, and statistical offices. In some cases, the data were sourced from local news articles publishing the government’s press releases on price adjustments. For countries with deregulated prices that conduct regular fuel price surveys, the author manually collected the published monthly average prices for the country and if available for several major cities in the country.

United States Natural Gas Price: EIA: Industrial data was reported at 3.750 USD/1000 Cub ft in Sep 2018. This records an increase from the previous number of 3.670 USD/1000 Cub ft for Aug 2018. United States Natural Gas Price: EIA: Industrial data is updated monthly, averaging 3.800 USD/1000 Cub ft from Jan 1984 (Median) to Sep 2018, with 417 observations. The data reached an all-time high of 13.060 USD/1000 Cub ft in Jul 2008 and a record low of 2.230 USD/1000 Cub ft in Jul 1991. United States Natural Gas Price: EIA: Industrial 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.P002: Energy Price.

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.

About the ProjectKAPSARC is analyzing the shifting dynamics of the global gas markets. Global gas markets have turned upside down during the past five years: North America has emerged as a large potential future LNG exporter while gas demand growth has been slowing down as natural gas gets squeezed between coal and renewables. While the coming years will witness the fastest LNG export capacity expansion ever seen, many questions are raised on the next generation of LNG supply, the impact of low oil and gas prices on supply and demand patterns and how pricing and contractual structure may be affected by both the arrival of U.S. LNG on global gas markets and the desire of Asian buyers for cheaper gas.Key PointsIn the past year, global gas prices have dropped significantly, albeit at unequal paces depending on the region. All else being equal, economists would suggest that this should have generated a positive demand response. However, “all else” was not equal. Prices of other commodities also declined while economic growth forecasts were downgraded. Prices at benchmark points such as the U.K. National Balancing Point (NBP), U.S. Henry Hub (HH) and Japan/Korea Marker (JKM) slumped due to lower oil prices, liquefied natural gas (LNG) oversupply and unseasonal weather. Yet, the prices of natural gas in local currencies have increased in a number of developing countries in Africa, the Middle East, Latin America, former Soviet Union (FSU) and Asia. North America experienced demand growth while gas in Europe and Asia faced rising competition from cheaper coal, renewables and, in some instances, nuclear. Gains to European demand were mostly weather related while increases in Africa and Latin America were not significant. For LNG, Europe became the market of last resort as Asian consumption declined. Moreover, an anticipated surge in LNG supply, brought on by several new projects, may lead to a confrontation with Russian or other pipeline gas suppliers to Europe. At the same time, Asian buyers are seeking concessions on pricing and flexibility in their long-term contracts. Looking ahead, natural gas has to prove itself a credible and affordable alternative to coal, notably in Asia, if the world is to reach its climate change targets. The future of the gas industry will also depend on oil prices, evolution of Chinese energy demand and impact of COP21 on national energy policies. Current low prices mean there is likely to be a pause in final investment decisions (FIDs) on LNG projects in the coming years.

Natural Gas: Average Residential Price: Nebraska data was reported at 9.280 USD/1000 Cub ft in Feb 2025. This records a decrease from the previous number of 9.310 USD/1000 Cub ft for Jan 2025. Natural Gas: Average Residential Price: Nebraska data is updated monthly, averaging 8.530 USD/1000 Cub ft from Jan 1989 (Median) to Feb 2025, with 434 observations. The data reached an all-time high of 27.320 USD/1000 Cub ft in Sep 2022 and a record low of 4.020 USD/1000 Cub ft in Jan 2020. Natural Gas: Average Residential Price: Nebraska 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.

European countries have some of the highest natural gas prices for households worldwide. Natural gas prices for households vary greatly around the world, depending on governmental levies, taxes, as well as local production. In Sweden, prices averaged 0.25 U.S. dollars per kilowatt-hour in December 2024, whilst prices in Canada, a producer of natural gas, were just 0.04 U.S. dollars per kilowatt-hour.

Graph and download economic data for Global price of LNG, Asia (PNGASJPUSDM) from Jan 1992 to Jun 2025 about Asia, World, and price.