Global Energy Prices - Statistics & Facts

Under the coronavirus outbreak in 2020, rising oil inventories and lower oil demand will likely keep oil prices low. According to a weighted index of energy prices provided by the World Bank, the price index of energy is expected to reach 87.2 U.S. dollars in 2030, compared to 2010 prices. Oil prices, in particular, have increased very sharply over the last two decades. In 2018, the annual average price of Brent crude oil reached a price of 71.06 U.S. dollars per barrel, a significant decrease from around 111.63 U.S. dollars per barrel in 2012. This trend also manifested itself on a domestic scale, with the average consumer price for heating oil in the U.S. reaching 3.07 U.S. dollars per gallon in the winter between 2018 and 2019.

Coal prices have undergone a similar trend. Despite a brief downturn following the global financial crisis in 2008, the price of thermal coal peaked and has since dropped significantly since the recession, standing at around 107 U.S. dollars per metric ton in 2018. Due to its importance in the electric power sector, rising coal prices are expected to drive electricity prices higher over the long-term. Residential electricity prices in the U.S. are projected to grow by another 1.2 percent by 2020, having already seen an increase every year since 2003.

While European natural gas prices are also on the rise, the price of U.S. natural gas is expected to see a further increase, rising above previous prices. Therefore, it is little surprising that natural gas end user prices are highest in European countries, including Sweden, Finland and Germany. Over the last decades, natural gas prices have experienced the least variability, in comparison to other fossil fuels. Regional differences in natural gas prices can be due to the different natural gas sources.

In cases of electricity pricing, residential customers typically have to pay more than industrial customers. Residential prices also tend to vary more across countries. Mirroring this tendency, countries with lower electricity prices generally specialize in industrial sectors.

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In the following 6 chapters, you will quickly find the 28 most important statistics relating to "Global energy prices".

Global energy prices

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Natural Gas

U.S. Electricity


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