Gas Prices Resource Page

Natural Gas and Home Heating Oil

Gasoline isn’t the only energy commodity for which prices are rising.  Natural gas and home heating oil costs have been increasing significantly in recent years.  Hurricanes Katrina and Rita shut down about 60% of natural gas production in the Gulf.  This was supply that generally would have been put in storage tanks for use in the winter heating season.  Increasingly tight supply, amplified by the Gulf hurricanes, caused households using primarily natural gas for heat to spend $126 more for fuel in Winter 2005-2006 - a 17% increase from the previous year.  Home heating oil prices have also gone up dramatically - increasing 50% since 1999.  The Energy Information Administration (EIA) concluded households using primarily heating oil paid $187 more this past winter - a 16% increase over last year.  These price hikes occurred despite a mild winter.  EIA maintains continuing tight supplies will keep natural gas and home heating oil prices high for the next heating season.

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