Natural Gas price jumps 50%
Why are the prices of gasoline up? Despite claims of lower prices at the pump, GasBuddy says as of November 10,2025 the “national average is down 4.0 cents from a month ago but is also 0.8 cents per gallon higher than a year ago.”
While the price of crude oil may be down around $60 a barrel,US refiners are deciding to make less gasoline for the domestic market. Take a look at President Trump’s energy agency chart for the past two years showing a decline in supply – now at a two-year low.
Meanwhile,the national average price of diesel has increased 6.5 cents in the last week and stands at $3.73 per gallon compared to $3.51 a year ago according to the Energy Information Agency.That drives the cost of goods delivered by trucks and rail higher and it means more costs for farmers.
“The national average price of gasoline edged higher last week, with the vast majority of states seeing prices climb,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Refinery issues in the Great Lakes and West Coast have kept prices elevated, and gasoline inventory data from the government showed another large weekly drop in supplies.”
Trading Economics reports most fossil fuel prices are higher in 2025 compared to this time a year ago.( see chart) That includes gasoline, heating oil and notably natural gas now up 55.4%.
The fuel is used to heat homes and make electricity, helping to drive these common consumer expenses higher as well !
Natural gas prices are rising due to factors like strong export demand, especially from liquefied natural gas (LNG) facilities, and colder-than-average temperatures increasing heating needs. The U.S. Energy Information Administration (EIA) forecasts that the average Henry Hub spot price could reach $3.40-$3.90 per million British thermal units ((MMBtu)) in 2025 and 2026, up from a 2024 average of about (2.20/MMBtu). This trend is expected to lead to higher electricity rates for consumers.
A news report this week suggests a higher cost to heat your home this winter.”This week’s cold blast is setting the stage for winter, and experts say heating your home could cost more this year.“Everyone is saying prices are going up,” said Mark Wolfe, executive director of the National Energy Assistance Directors Association. “Nobody is saying prices are coming down.” Wolfe said rising costs for electricity and natural gas will make home heating more expensive for most families this winter. The National Energy Assistance Directors Association projects average home heating costs will rise 7.6%, from $907 last winter to about $976 this season. Families using electric heat will see the biggest jump — up 10.2% to about $1,205 — while natural gas costs are expected to rise from $639 to $693.”