According to the U.S. Bureau of Labor Statistics, prices for utility (piped) gas service are 8.14% lower in 2024 versus 2008 (a $0.12 difference in value).
The current national average price is $1.42 for "Utility (piped) gas per therm". This data is collected by a national survey and can vary from region to region.
Between 2008 and 2024: Natural gas experienced an average inflation rate of -0.53% per year. In other words, natural gas costing $1.42 in the year 2008 would cost $1.30 in 2024 for an equivalent purchase. Compared to the overall inflation rate of 2.37% during this same period, inflation for natural gas was lower.
In the year 2008: Pricing changed by 13.83%, which is significantly above the average yearly change for natural gas during the 2008-2024 time period. Compared to inflation for all items in 2008 (3.84%), inflation for natural gas was much higher.
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 | $1.42 (latest available value) | $1.42 |
| 2023 | $1.46 | $1.42 |
| 2022 | $1.58 | $1.43 |
| 2021 | $1.25 | $1.42 |
| 2020 | $1.05 | $1.40 |
| 2019 | $1.04 | $1.39 |
| 2018 | $1.05 | $1.37 |
| 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 | $1.32 |
| 2006 | $1.28 | $1.32 |
| 2005 | $1.25 | $1.32 |
| 2004 | $1.05 | $1.33 |
| 2003 | $0.97 | $1.33 |
| 2002 | $0.79 | $1.32 |
| 2001 | $0.94 | $1.35 |
| 2000 | $0.80 | $1.39 |
| 1999 | $0.69 | $1.38 |
| 1998 | $0.68 | $1.38 |
| 1997 | $0.69 | $1.37 |
| 1996 | $0.65 | $1.37 |
| 1995 | $0.62 | $1.37 |
| 1994 | $0.65 | $1.36 |
| 1993 | $0.63 | $1.36 |
| 1992 | $0.60 | $1.35 |
| 1991 | $0.60 | $1.38 |
| 1990 | $0.59 | $1.38 |
| 1989 | $0.59 | $1.38 |
| 1988 | $0.58 | $1.40 |
| 1987 | $0.58 | $1.38 |
| 1986 | $0.60 | $1.37 |
| 1985 | $0.63 | $1.37 |
| 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 $1.42 beginning in 2008. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 2008 | $1.42 | 13.83% |
| 2009 | $1.11 | -21.83% |
| 2010 | $1.09 | -2.08% |
| 2011 | $1.06 | -2.82% |
| 2012 | $0.95 | -9.63% |
| 2013 | $1.00 | 4.72% |
| 2014 | $1.07 | 7.05% |
| 2015 | $0.94 | -11.86% |
| 2016 | $0.92 | -2.41% |
| 2017 | $0.99 | 7.97% |
| 2018 | $0.99 | 0.10% |
| 2019 | $0.98 | -1.48% |
| 2020 | $0.98 | 0.20% |
| 2021 | $1.15 | 16.74% |
| 2022 | $1.44 | 25.83% |
| 2023 | $1.34 | -7.19% |
| 2024 | $1.30 | -2.59%* |
* 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 | 227.625 |