What is the price of natural gas in New Jersey?
What is the price of natural gas in New Jersey?
Stats
| Value from Last Month | 14.20 |
|---|---|
| Value from 1 Year Ago | 13.16 |
| Change from 1 Year Ago | 4.48% |
| Frequency | Monthly |
| Unit | USD per Thousand Cubic Feet |
Why are gas prices going up in New Jersey?
“Overall, demand for gasoline is going up due to the effectiveness of the COVID vaccines,” Sinclair said. In other words, we’re going out and traveling more. That is a double-edged dagger for drivers. More demand is the same factor that state officials said caused the state gas tax to drop by 8 cents a gallon.
When was the highest gas prices in New Jersey?
On Wednesday, New Jersey’s average price per gallon for regular was $3.39, marking a high it had last hit on Aug. 6, 2014, when the price reached $3.38. The national average price on Friday for a gallon of regular gasoline was $3.37, up seven cents from last week.
How much does natural gas cost?
Now, let’s take a look at the prices of both of the two gases for the same quantity. Natural gas costs USD 6.23 per 1000 cubic feet, which is nearly 1 million BTUs. One million BTUs of natural gas are roughly equivalent to 11.20 gallons of propane, that is, 26.99 USD worth propane.
How much does a therm cost?
The average cost of natural gas per therm varies considerably by season and location. In January 2020, the national average price was $9.52 per thousand cubic feet. That’s $0.95 per Ccf. And at the 2019 national average heat content of 1,037 Btu per cubic foot, it’s a natural gas therm price of $0.92.
What are natural gas prices?
Notably, in 2019, natural gas spot prices at the national benchmark Henry Hub averaged $2.57 per million British thermal units (MMBtu), thereby marking the lowest annual average price since 2016. Such lower prices caused higher consumption of natural gas, particularly in electricity generation. Will This Trend Continue?
How does natural gas pricing work?
The price of natural gas delivered to your business can be divided into three primary components: The commodity cost refers to the cost of the gas supply produced from a gas well. As is true of other commodities, natural gas pricing is dependent on various market forces and fluctuates frequently.
