Energy prices are on the rise. Like any other commodity, energy prices rise and fall as supply and demand changes. As you know, heating oil prices have risen significantly due to supply shortages and these same shortages also resulted in higher gasoline prices at the pumps. The cost of electricity, propane and wood have also increased.
Natural gas is no exception.
Recently, natural gas prices have increased significantly throughout the entire United States. This fact sheet will explain why and what customers can do to keep energy costs as low as possible this winter. In 1998-99, huge reserves of natural gas existed because of warmer winter weather. This condition forced gas prices to extreme lows. Producers ceased production because it was not profitable to keep drilling for natural gas.