U.S. Henry Hub Natgas Prices Fell to 26-year Low in August

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U.S. spot natural gas prices for the month of August fell to a 26-year low at the Henry Hub benchmark in Louisiana, according to pricing data from financial firm LSEG.

Gas prices averaged $1.99 per million British thermal units (mmBtu) in August, their lowest since hitting $1.91 during the month in 1998. That compares with $2.58 in August 2023 and a five-year (2019-2023) average of $3.99 for the month.

So far in 2024, prices at the Henry Hub have averaged $2.09 per mmBtu.

In calendar 2023, gas fell to an average of $2.54 per mmBtu, its lowest since 2020 when prices collapsed to a 25-year low of $2.03 as pandemic lockdowns destroyed demand.

That compares with $6.42 in calendar 2022 and a five-year (2017-2021) average of $2.93.

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For a list of daily U.S. spot gas cash prices from SNL Energy, including Henry Hub, see.

Prices are in U.S. dollars per mmBtu and are derived from LSEG data. The average for the year is from the U.S. Energy Information Administration (EIA):

YEAR	JAN	FEB	MAR	APR	MAY	JUN	JUL	AUG	SEP	OCT	NOV	DEC	AVERAGE
2024	3.18	1.72	1.49	1.60	2.12	2.54	2.08	1.99
2023	3.28	2.38	2.31	2.16	2.15	2.18	2.55	2.58	2.64	2.99	2.71	2.52	2.54
2022	4.38	4.69	4.90	6.59	8.14	7.70	7.28	8.80	7.88	5.69	5.40	5.53	6.42
2021	2.71	5.35	2.62	2.66	2.91	3.26	3.84	4.07	5.16	5.52	5.05	3.76	3.91
2020	2.02	1.91	1.79	1.74	1.75	1.63	1.76	2.30	1.92	2.39	2.59	2.57	2.03
2019	3.07	2.70	2.93	2.65	2.64	2.40	2.36	2.22	2.57	2.33	2.63	2.22	2.57
2018	3.88	2.67	2.70	2.79	2.80	2.97	2.83	2.96	3.00	3.27	4.13	3.97	3.15
2017	3.26	2.82	2.87	3.08	3.12	2.94	2.96	2.88	2.96	2.87	2.99	2.76	2.99
2016	2.27	1.96	1.70	1.90	1.92	2.57	2.79	2.79	2.97	2.95	2.50	3.58	2.51
2015	2.97	2.85	2.80	2.58	2.84	2.77	2.83	2.77	2.65	2.32	2.08	1.92	2.63
2014	4.59	5.94	4.93	4.27	4.55	4.57	4.01	3.88	3.92	3.77	4.10	3.43	4.39
2013	3.34	3.32	3.66	4.07	4.12	3.98	3.68	3.44	3.60	3.61	3.57	4.04	3.73
2012	2.70	2.56	2.27	2.06	2.43	2.46	2.84	2.93	2.73	3.18	3.55	3.49	2.75
2011	4.37	4.22	3.86	4.24	4.35	4.46	4.42	4.22	3.88	3.67	3.35	3.17	4.00
2010	5.78	5.31	4.56	3.99	4.21	4.51	4.68	4.54	3.88	3.64	3.54	4.24	4.39
2009	5.64	4.53	4.03	3.56	3.62	3.68	3.62	3.27	2.88	3.99	4.00	5.04	3.95
2008	7.68	8.37	9.19	9.81	11.35	12.30	11.84	8.72	7.99	7.07	6.60	6.29	8.86
2007	6.22	7.64	7.33	7.61	7.56	7.48	6.51	6.19	5.85	6.61	7.24	7.14	6.98
2006	9.93	8.12	6.98	7.19	6.70	6.03	5.95	7.25	5.83	5.13	7.33	7.36	6.74
2005	6.14	6.22	6.67	7.24	6.60	7.04	7.38	8.65	11.51	14.09	11.96	12.26	8.81
2004	6.16	5.55	5.30	5.56	6.17	6.41	6.16	5.74	5.15	6.30	6.76	7.08	5.90
2003	5.18	6.58	7.30	5.16	5.55	5.92	5.13	4.86	4.78	4.62	4.51	5.54	5.49
2002	2.45	2.20	2.76	3.42	3.49	3.33	3.12	3.03	3.41	4.00	4.10	4.47	3.37
2001	9.17	5.81	5.14	5.28	4.43	3.73	3.14	3.04	2.25	2.15	2.67	2.40	3.96
2000	2.38	2.64	2.72	2.95	3.30	4.33	4.18	4.13	4.91	5.18	5.13	7.74	4.31
1999	1.80	1.79	1.73	2.03	2.30	2.29	2.29	2.72	2.69	2.68	2.65	2.28	2.27
1998	2.18	2.13	2.25	2.44	2.21	2.10	2.28	1.91	1.86	1.98	2.09	1.90	2.09
1997	3.83	2.53	1.85	1.93	2.23	2.27	2.19	2.36	2.72	3.13	3.13	2.42	2.50
1996	3.14	4.06	3.05	2.37	2.21	2.42	2.60	2.15	1.80	2.12	2.97	3.89	2.76
1995	1.61	1.46	1.50	1.59	1.65	1.66	1.47	1.50	1.63	1.73	1.92	2.42	1.69
1994	2.32	2.73	2.25	2.04	2.00	1.89	1.99	1.72	1.51	1.45	1.62	1.70	1.92
1993	2.00	1.71	2.01	2.27	2.33	2.04	2.03	2.24	2.29	2.03	2.21	2.21	2.12
1992	1.46	1.14	1.25	1.44	1.55	1.65	1.64	1.93	2.01	2.56	2.31	2.28	1.77
1991	1.68	1.36	1.34	1.33	1.32	1.25	1.17	1.26	1.47	1.69	1.84	1.90	1.49
1990	2.43	1.92	1.55	1.50	1.50	1.50	1.43	1.37	1.45	1.62	2.12	2.23	1.70
1989	—-	1.70	1.50	1.53	1.66	1.69	1.66	1.59	1.52	1.60	1.89	2.22