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Price per million BTU of oil and natural gas in the US, 1998-2015. Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe.
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.
In the U.S., utility gas prices in September were 70% higher than in recent years. Europeans, who already pay much higher for natural gas, saw bills rise sharply by 50% — for example, in Estonia.
Natural gas prices are on track to close out the year in negative territory. But there's optimism for 2025, largely because of exports and more demand stemming from artificial intelligence.
Price per million BTU of oil and natural gas in the US, 1998-2015 Natural gas prices spiked to $23.86 on February 17, 2021 because of the Texas power crisis. [14] In February 2003 there was a similar spike in natural gas prices because of shortages. [15]
Arizona: Prices are rising again in Arizona, where gas now costs $4.49, up from $4.10 one week ago, $3.97 one month ago, and $3.22 one year ago. It peaked at $5.39 on June 17. It peaked at $5.39 ...
The price of natural gas varies greatly depending on location and type of consumer. The typical caloric value of natural gas is roughly 1,000 BTU per cubic foot, depending on gas composition. Natural gas in the United States is traded as a futures contract on the New York Mercantile Exchange. Each contract is for 10,000 million BTU or 10 ...
At the time of writing, the national average price of regular gas is $3.62 per gallon, $0.02 higher than this time last year. Drivers who use premium gas are paying $0.07 more this year than last ...
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