BLOOMINGTON– Natural gas prices are down to 22-cents per therm. And that’s about the lowest since Nicor Community Service spokesman Bernie Anderson started working for the company 32 years ago.
The price atthe pump has been falling forthree weeks, and natural gas prices are someof the lowest right now.
Bernie Anderson said prices are at 22 cents atherm, for various reasons.
“I guessthe biggest thing impacting it right now is stillthe slower economy, and did winter ever show? More drilling,the government let up on regulations so you have more drilling going on,” Anderson said. “And,the new thing isthe fracking, so you’re putting a lotof gas intothe market.”
Fracking isthe processof cracking rocks that holdthe natural gas by pushing water intothe Earth.
Anderson said it is possible to lock in lower prices for several years. He saidthe price could still drop lower, but he doesn’t know how much.
Anderson saidthe lowest he’s seen in 32 years with Nicor is 19 cents.
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