The price of natural gas has changed significantly over the last forty years reflecting its volatility or instability. The average annual prices for the residential, commercial, and industrial sectors mimicked each other's movements and kept a steady price spread. From 2019 to 2020, the electric power sector price increased 21 cents or 7.48 percent, and the price of natural gas in the residential sector increased 15 cents or 2.03 percent. The industrial sector price decreased 34 cents or 8.77 percent, while the commercial sector price decreased 32 cents or 6.06 percent.
In 2020, the residential sector paid the highest price out of all the sectors at $7.34 per billion cubic feet. The commercial sector's price was the next highest at $4.99, the industrial sector's price was $3.54, and the electric power sector's price was $3.08 per billion cubic feet.
The prices are in nominal dollars to provide a better comparison.