According to the U.S. Bureau of Labor Statistics, prices for utility (piped) gas service are 1,153.37% higher in 2024 versus 1968 (a $17.19 difference in value).
The current national average price is $1.49 for "Utility (piped) gas per therm". This data is collected by a national survey and can vary from region to region.
Between 1968 and 2024: Natural gas experienced an average inflation rate of 4.62% per year. This rate of change indicates significant inflation. In other words, natural gas costing $1.49 in the year 1968 would cost $18.68 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 4.00% during this same period, inflation for natural gas was higher.
In the year 1968: Pricing changed by 0.81%, which is significantly below the average yearly change for natural gas during the 1968-2024 time period. Compared to inflation for all items in 1968 (4.27%), inflation for natural gas was much lower.
The average price for Natural gas is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. Inflation rate is also calculated by the Bureau of Labor Statistics. The table below shows average prices and their corresponding "real" prices adjusted for inflation rate. To understand how price levels differ from inflation rates, see this article published by the BLS.
Average prices for Utility (piped) gas per therm:
| Year | Average price (Natural gas) | Inflation adjusted price (2024 dollars) |
|---|---|---|
| 2024 | $1.49 (latest available value) | $1.49 |
| 2023 | $1.46 | $1.43 |
| 2022 | $1.58 | $1.43 |
| 2021 | $1.25 | $1.42 |
| 2020 | $1.05 | $1.41 |
| 2019 | $1.04 | $1.39 |
| 2018 | $1.05 | $1.38 |
| 2017 | $1.02 | $1.34 |
| 2016 | $0.92 | $1.31 |
| 2015 | $0.94 | $1.31 |
| 2014 | $1.08 | $1.32 |
| 2013 | $1.01 | $1.32 |
| 2012 | $0.97 | $1.32 |
| 2011 | $1.07 | $1.32 |
| 2010 | $1.10 | $1.32 |
| 2009 | $1.12 | $1.32 |
| 2008 | $1.44 | $1.33 |
| 2007 | $1.26 | $1.33 |
| 2006 | $1.28 | $1.33 |
| 2005 | $1.25 | $1.33 |
| 2004 | $1.05 | $1.33 |
| 2003 | $0.97 | $1.33 |
| 2002 | $0.79 | $1.33 |
| 2001 | $0.94 | $1.35 |
| 2000 | $0.80 | $1.39 |
| 1999 | $0.69 | $1.39 |
| 1998 | $0.68 | $1.39 |
| 1997 | $0.69 | $1.37 |
| 1996 | $0.65 | $1.38 |
| 1995 | $0.62 | $1.37 |
| 1994 | $0.65 | $1.37 |
| 1993 | $0.63 | $1.36 |
| 1992 | $0.60 | $1.36 |
| 1991 | $0.60 | $1.38 |
| 1990 | $0.59 | $1.38 |
| 1989 | $0.59 | $1.39 |
| 1988 | $0.58 | $1.41 |
| 1987 | $0.58 | $1.39 |
| 1986 | $0.60 | $1.37 |
| 1985 | $0.63 | $1.38 |
| 1984 | $0.65 | $1.40 |
| 1983 | $0.65 | $1.41 |
| 1982 | $0.56 | $1.42 |
| 1981 | $0.47 | $1.42 |
| 1980 | $0.41 | $1.41 |
| 1979 | $0.35 | $1.43 |
| 1978 | $0.31 | $1.47 |
Below are calculations of equivalent buying power for Natural gas, over time, for $1.49 beginning in 1968. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1968 | $1.49 | 0.81% |
| 1969 | $1.52 | 1.90% |
| 1970 | $1.60 | 5.43% |
| 1971 | $1.72 | 7.23% |
| 1972 | $1.81 | 5.24% |
| 1973 | $1.89 | 4.53% |
| 1974 | $2.12 | 12.52% |
| 1975 | $2.55 | 19.83% |
| 1976 | $2.97 | 16.63% |
| 1977 | $3.53 | 18.96% |
| 1978 | $3.88 | 9.92% |
| 1979 | $4.51 | 16.09% |
| 1980 | $5.37 | 19.17% |
| 1981 | $6.12 | 14.00% |
| 1982 | $7.34 | 19.86% |
| 1983 | $8.56 | 16.66% |
| 1984 | $8.63 | 0.75% |
| 1985 | $8.57 | -0.69% |
| 1986 | $8.15 | -4.90% |
| 1987 | $7.78 | -4.57% |
| 1988 | $7.73 | -0.61% |
| 1989 | $7.94 | 2.78% |
| 1990 | $7.96 | 0.19% |
| 1991 | $8.06 | 1.25% |
| 1992 | $8.20 | 1.82% |
| 1993 | $8.71 | 6.12% |
| 1994 | $8.87 | 1.90% |
| 1995 | $8.42 | -5.13% |
| 1996 | $8.76 | 4.13% |
| 1997 | $9.37 | 6.94% |
| 1998 | $9.19 | -1.97% |
| 1999 | $9.24 | 0.53% |
| 2000 | $10.79 | 16.87% |
| 2001 | $12.94 | 19.89% |
| 2002 | $11.06 | -14.53% |
| 2003 | $13.60 | 22.92% |
| 2004 | $14.72 | 8.29% |
| 2005 | $17.61 | 19.64% |
| 2006 | $18.05 | 2.47% |
| 2007 | $17.80 | -1.39% |
| 2008 | $20.26 | 13.83% |
| 2009 | $15.84 | -21.83% |
| 2010 | $15.51 | -2.08% |
| 2011 | $15.07 | -2.82% |
| 2012 | $13.62 | -9.63% |
| 2013 | $14.26 | 4.72% |
| 2014 | $15.27 | 7.05% |
| 2015 | $13.46 | -11.86% |
| 2016 | $13.13 | -2.41% |
| 2017 | $14.18 | 7.97% |
| 2018 | $14.20 | 0.10% |
| 2019 | $13.98 | -1.48% |
| 2020 | $14.01 | 0.20% |
| 2021 | $16.36 | 16.74% |
| 2022 | $20.59 | 25.83% |
| 2023 | $19.11 | -7.19% |
| 2024 | $18.68 | -2.25%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Utility (piped) gas service:
| Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
| CPI | 12.800 | 12.717 | 12.600 | 12.720 | 12.880 | 12.780 | 12.677 | 12.608 | 12.492 | 12.438 | 12.285 | 12.062 | 12.200 | 12.620 | 13.160 | 13.180 | 13.120 | 13.369 | 13.792 | 14.054 | 14.608 | 14.846 | 15.100 | 16.000 | 16.538 | 17.646 | 17.877 | 17.892 | 17.862 | 17.946 | 17.992 | 18.085 | 18.077 | 18.223 | 18.569 | 19.577 | 20.992 | 22.092 | 23.092 | 25.985 | 31.138 | 36.315 | 43.200 | 47.485 | 55.123 | 65.692 | 74.892 | 89.769 | 104.723 | 105.508 | 104.777 | 99.646 | 95.092 | 94.515 | 97.138 | 97.323 | 98.538 | 100.331 | 106.469 | 108.492 | 102.931 | 107.177 | 114.615 | 112.354 | 112.954 | 132.008 | 158.269 | 135.277 | 166.285 | 180.069 | 215.431 | 220.762 | 217.688 | 247.803 | 193.717 | 189.678 | 184.334 | 166.585 | 174.451 | 186.754 | 164.597 | 160.628 | 173.433 | 173.609 | 171.038 | 171.387 | 200.084 | 251.763 | 233.671 | 228.402 |