Residential and commercial U.S. natural gas prices were relatively high throughout 2021 and have exceeded the previous five-year (2017–21) range so far this year, according to our recently released Natural Gas Monthly. In real terms, the 2021 annual residential price was the highest since 2014, and the commercial price was the highest since 2015. For January–July 2022, the nominal residential price averaged $13.25 per thousand cubic feet (Mcf), 25% higher than for the same period in 2021. The commercial price averaged $10.50/Mcf, which was 33% higher.