Posted 3/16/2024, 12:30:00 PM
Plummeting Natural Gas Prices Offer Economic Relief Through Lower Energy Bills
- Natural gas prices have collapsed to a 4-year low, providing economic relief through lower energy costs
- Household gas bills fell 9% in February 2022 vs a year earlier, capping a year of declines
- Energy now contributes essentially 0% to overall US inflation, down from 25% in June 2022
- The drop in prices benefits households and companies like fertilizer makers, aluminum producers, and road builders
- US natural gas production has hit record highs, contributing to the price slide along with mild winter weather