Using the furnace is becoming a rarer accordance each day — and while Iowans are likely happy to see the heating bill go away, those bills carried a lot less sting than was predicted last fall. Department of Natural Resources energy analyst, Tommi Makila, says all of the heating fuels dropped in price.
Makila says it was good news for consumers as relatively high prices were expected. Makila says the economy was the big factor that caused heating fuels to decline in price. He says natural gas was the fuel that was the most affected as the industrial demand for natural gas went down, while at the same time supplies increased and the natural gas market collapsed.
Makila says the increase in supply will likely help keep natural gas prices lower. Makila says it looks like prices will stay at "relatively low levels." Most Iowans heat with natural gas, and the May D.N.R. survey found it was trading at seven-dollars-and 75 cents lower than at this time last year.