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Oil’s Drop Offsets Natural Gas Price Spike to Cool Inflation

Natural Gas Intelligence · last updated

As temperatures plunged deep into freezing territory last month, natural gas prices surged, but the upward pressure from heating fuel demand was more than offset by other consumer energy costs in the federal government’s latest inflation reading.

Line chart titled “NGI’s Northeast Regional Avg. Daily Prices” tracking U.S. natural gas prices in $/MMBtu from March 2025 to March 2026, showing mostly single-digit pricing through 2025 before a sharp spike above $120/MMBtu in early 2026, then retreating below $20/MMBtu.

At A Glance:

  • U.S. inflation rate at 2.4%
  • Consumer gas prices up 9.8%
  • Heating demand to dissipate