Natural gas prices plummet

The U.S. Energy Department says an unexpected increase in our nation’s supply of natural gas has caused the commodity to drop more than 3 percent. Experts say our nation’s natural gas supply is also reaching new levels and is about 25 percent higher than the average for this time of the year.

The government says stockpiles have jumped because of a recent boom in North American production coupled with a relatively warmer winter. Officials say because of the warmer temperatures, less natural gas was being burned to supply heat. Despite an increase in supply, triple-digit temperatures throughout the Midwest and along the East Coast are helping keep supply numbers relatively in check.

Fuel prices across the U.S. also dropped this week, lowering the national average to $3.369 per gallon. Since April, the price for a gallon of regular unleaded has dropped by 56.7 cents since prices peaked in the first week of April.

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