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 2018 to 2019, the price of natural gas in the residential sector decreased 65 cents or 8.31 percent, the electric power sector decreased 65 cents or 18.54 percent, the commercial sector price decreased 45 cents or 7.94 percent, while the industrial sector price decreased 23 cents or 5.67 percent.
In 2019, the residential sector paid the highest price out of all the sectors at $7.20 per billion cubic feet. The commercial sector's price was the next highest at $5.31, the industrial sector's price was $3.89, and the electric power sector's price was $2.82 per billion cubic feet.
The prices are in nominal dollars to provide a better comparison.
