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Drop in fuel prices foreshadows cheaper heating bills |
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Written by asap
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Thursday, 28 September 2006 |
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Turn up that heat.
Homeowners are going to find some relief this winter, thanks to plentiful supplies and falling prices for natural gas, heating oil and propane.
The cost of natural gas on wholesale markets is about half of what it was last January because of high inventories and the anticipation of record amounts in storage by the time the heating season begins in November.
IN HIS WORDS
"There is good news for consumers going into this winter. For the first time in four years we're seeing downward pressure on prices," Chris Conway, chairman of the Natural Gas Supply Association, said at a news conference Thursday. The trade group represents natural gas producers.
NOT SO FAST
Government analysts and industry executives cautioned that weather remains an unknown. If the winter turns unusually cold, heating prices again could jump. Another major factor could be the cost of crude oil, which has fallen by one-fifth since reaching a brief high of $78.40 a barrel on July 14. That has seen the wholesale price of fuel oil drop by about 40 cents a gallon since early August.
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On the Net
Energy Information Administration: http://www.eia.doe.gov
American Gas Association: http://www.aga.org
Natural Gas Supply Association: http://www.ngsa.org | Only registered users can write comments. Please login or register. |
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