Natural Gas Prices Are Changing

You may have noticed gas prices fluctuating, both for your home and for your car. These changes are being seen across the country, not just here in Georgia. As an authority on natural gas, we want to share what we know with you as you begin to see potentially higher bills.

There are several factors contributing to the price volatility:

  1. The rapid restart to the economy post-pandemic has increased demand for energy across the globe.
  2. The price of natural gas in Europe and Asia/Pacific has drastically increased, many times the increase we have seen in the U.S.
  3. U.S. producers are choosing to sell natural gas abroad at a higher price than they would receive domestically.
  4. The exported natural gas has exceeded forecasts and decreased the supply in the U.S.

Adding to those factors is a forecast of colder than normal weather across parts of the country.

The good news is that the U.S. has some of the world’s largest reserves of natural gas, so we do not need to rely on other countries to supply natural gas. In addition, higher prices for natural gas should encourage U.S. producers to increase production which will eventually cause prices to even out a bit. 

How to control your energy costs

Natural gas prices will continue to fluctuate as the global economy comes back online post-pandemic. The best way to control your energy costs this winter is to make sure your house is energy efficient. Small projects can make a big difference this winter.

You can find ways to save energy here on our blog.

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