Baku: Europe’s natural gas prices experienced a decline in November, while prices in the United States showed an increase. The average price of natural gas in Europe was 10.42 US dollars per 1 million BTU (British thermal unit), marking a 4.3% decrease compared to October’s rate of 10.89 dollars.

According to Azeri-Press News Agency, the World Bank’s monthly commodity price report highlighted these changes. In Europe, the average price of natural gas has been progressively declining throughout the year, with first-quarter prices at 14.41 dollars, second-quarter prices at 11.87 dollars, and third-quarter prices at 11.29 dollars. The World Bank also noted that the average price of gas in Europe for 2024 was projected to be 10.96 dollars, showing a 16.4% decrease from 2023’s average of 13.11 dollars.

In contrast, the United States saw a rise in natural gas prices during the same period. November’s average price reached 3.79 US dollars per 1 million BTU, an 18.4% increase from October’s average of 3.2 dollars. The report detailed the price trends over the year, with first-quarter prices at 4.15 dollars, second-quarter prices at 3.18 dollars, and third-quarter prices at 3.03 dollars. Last year’s average gas price in the United States was 2.19 dollars, representing a 13.8% decrease from the previous year’s 2.54 dollars.