Natural gas price increases

Published: July 31, 2012
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In brief

Natural gas price rises

As the temperature keeps rising, so does the price of natural gas. Natural gas futures in New York have surged 69 percent since hitting a 10-year low this spring. Power plants are burning more natural gas for electricity as homes and businesses crank up the air conditioning. And natural gas companies are finally cutting back after a production boom that pushed supplies this winter to the highest level on record. The price jumped another 6.6 percent on Monday after forecasters predicted an especially toasty August in the Midwest. Natural gas ended the day at $3.214 per 1,000 cubic feet, a high for the year.

Associated Press



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