An Iowa Department of Natural Resources analyst says things are looking good at this point when it comes to saving money on winter heating bills. Jim Bodensteiner says the most popular heating fuel is selling for a lot less.
Bodensteiner says the price of natural gas is about 55-percent less than last year. Bodensteiner says the fear over running out of fuel that drove prices up is now working in the other direction. He says the supply is way up as we’re above the five-year average inventory by 12-point-eight percent. Bodensteiner says the cost of heating oil is also down — priced 22-percent lower than last year.
Bodensteiner says the low prices look to be good through the cold months. Bodensteiner says there may be things that could change, but he says they’re predicting that heating prices will be considerably lower this year. He says the forecasts also say temperatures will two degrees warmer this winter.
The D-N-R is holding its 2006 Iowa Winter Fuels Forum Tuesday where they’ll discuss winter fuel price and supply forecasts from petroleum, natural gas, and propane industry representatives.