Natural gas, the nation’s most prevalent heating fuel, is getting cheaper just as winter is arriving because of mild temperatures and plentiful supplies.
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The price of natural gas has dropped 29 percent in a month, to $3.17 per 1,000 cubic feet on Tuesday from nearly $4.50 in late November. That’s a steep drop even for a fuel notorious for volatile price swings.
The lower prices are expected to linger and could reduce electricity prices and heating bills in the coming months. Natural gas is used by half of the nation’s households for heating and to generate 26 percent of the nation’s electricity.