Rocky Mountain Area Natural Gas Daily Price Review – September 2025

Brian Jeffries

The charts below depict the daily cash price for natural gas at Opal and at the Cheyenne Hub for each day in September 2025. Also shown are prices at some key locations downstream from Wyoming going to the west and going to the midcontinent region and the price for Waha, TX, which represents the Permian Basin. Canadian supplies from Alberta (through Kingsgate, ID—the purple line on the first chart) and from British Columbia (through Sumas, WA—the orange line on the first chart) remain low in comparison to prices in southwest Wyoming.

The second chart includes lines for the difference between Opal (Rockies gas) and Sumas (British Columbia gas), for the difference between Opal and Kingsgate (Alberta gas), and for the difference between Opal and the Permian Basin. A negative value in the orange, purple, and dashed gray lines depicts the extent to which British Columbia gas, Alberta gas, and Permian gas, respectively, were cheaper than Rockies gas in the daily market during September 2025.

Note that Permian spot prices spent a substantial portion of September 2025 at prices that were below Opal prices by more than $4.00 (four dollars and zero cents).