While gas prices have bumped up recently, there’s good news about the cost of the most popular home heating fuel. Jim Bodensteiner of the Iowa Department of Natural Resources says natural gas prices are dropping for the same reason the price of gas you put in your car has gone up — supply.
Bodensteiner says natural gas supplies were running over eight percent above the five year national average for this time of year, and with predictions of warmer winter weather, those supplies should stay strong. Bodensteiner says there’d have to be a prolonged cold pattern to really bring the prices up, but predictions call for warmer temperatures after this weekend. When he checked the price of natural gas on Monday, it was at eight-dollars and 22-cents per B-T-U, and then dropped by the time he checked it again Tuesday. He says analysts believe it will go down to as low as seven dollars and 22-cents per B-T-U.
Bodensteiner says natural gas prices last year at this time were running at seven-dollars and 47-cents per B-T-U. For more information on fuel prices, check out the D-N-R’s website at: www.Iowadnr.com.