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Average natural gas prices in the U.S. 2008-2019, by sector

In the United States, natural gas prices were the highest in the residential sector at 10.6 U.S. dollars on average per 1,000 cubic feet. Commercial natural gas costs were second-highest, while prices in the industrial and electric power sector were the lowest, at less than five U.S. dollars on average. Prices for the industrial and electric power customers tend to be close to the wholesale electricity price as they tend to use more electricity and thus, supplying electricity to the customers is more efficient and less expensive.

The growing natural gas market

Since 2008, natural gas prices have decreased across all sectors in the United States. 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 were 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.

Average prices for natural gas in the United States from 2008 to 2019, by sector

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Sources

Release date

August 2020

Region

United States

Survey time period

2007 to 2019

Supplementary notes

This statistic excludes transportation sector data because data after 2013 was unavailable.

In nominal dollars, reflecting the buying power in the year in which the transaction occurred; not adjusted to remove the effect of changes in the purchasing power of the dollar.
Average prices, intended to include all taxes.

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Statistics on "Natural gas energy in the U.S."

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