The price of hydrogen fuel varies depending on the country, region, and method of production. Hydrogen fuel is typically sold by the kilogram (kg) and prices can range from less than $5/kg to more than $16/kg.
Some countries with developed markets for hydrogen fuel, such as Japan and California in the United States, have seen prices decline over the years due to increased production and competition. On the other hand, countries with less developed markets may see prices rise due to a lack of infrastructure and production facilities.
Keep in mind that the cost of producing fuel hydrogen can vary greatly depending on the production method. Currently, the most common methods are steam methane reforming (SMR), which is based on natural gas, and electrolysis, which splits water into hydrogen and oxygen using electricity. As renewables become more widespread, the cost of producing hydrogen through electrolysis is expected to fall, making it more competitive with traditional fossil fuels.
In general, the price of hydrogen is expected to continue to fall as more countries invest in infrastructure and production facilities and renewable energy becomes more affordable.