Many consumers recently received a jolt when they were informed that prices for natural gas would increase this winter. Prices will vary depending on the region of the country and the severity of the winter weather. But one thing remains certain — prices will go up.
According to the U.S. Department of Energy (DOE), “Residential natural gas prices for this heating season are expected to be about 10 to 15 percent higher than the average prices during last winter’s heating season. Much of the price difference is expected to occur in the fourth quarter, when wellhead prices [the cost of the gas itself, excluding transmission and distribution charges] are projected to be about $1.00 per thousand cubic feet (32 percent) higher than one year earlier.”