Rising Natural Gas Prices Threaten Winter Heating Costs in the U.S.

Since late September, natural gas futures have jumped 39%, reaching the highest levels since December 2022. Although prices have eased slightly, they remain nearly 50% higher than the same time last year. Analysts warn that gains consumers are seeing from lower gasoline prices could be wiped out by higher heating costs. Andy Lipow, president of Lipow Oil Associates, notes, “All that money the consumer is saving on gasoline may be eaten up by the soaring price of natural gas.”