Content about Natural gas

WASHINGTON — The Henry Hub spot price for natural gas averaged $3.56 per MMBtu in October, 34 cents lower than the September average, according to the U.S. Energy Information Administration’s (EIA) Short-Term Energy Outlook report released Nov. 8.

This month’s Outlook lowers the 2011 forecast by 6 cents to $4.09 per MMBtu and lowers the 2012 forecast by 19 cents to $4.13 per MMBtu compared with last month’s report.

Even while the delivered cost of natural gas continues to decline, EIA expects the cost of coal delivered to electric generators to increase by 6.4% during 2011. The net effect will be relatively modest growth in retail electricity prices over the forecast horizon, the report says.

For route drivers, EIA forecasts that the annual average regular-grade gasoline retail price, which averaged $2.78 per gallon in 2010, will increase to an average of $3.54 per gallon in 2011, before declining to an average $3.46 per gallon in 2012. The agency expects that on-highway diesel fuel retail prices, which averaged $2.99 per gallon in 2010, will average $3.84 per gallon in 2011 and $3.79 per gallon in 2012.

WASHINGTON — The Henry Hub spot price averaged $4.05 per MMBtu in August, 37 cents lower than the July average, according to the U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook report. This month’s report lowers the 2011 forecast by 4 cents to $4.20 per MMBtu and lowers the 2012 forecast by 11 cents to $4.30 per MMBtu, the report says.

Part of this downturn is due to natural gas consumption for electric power generation falling from 29.7 billion cubic feet per day (Bcf/d) in July to 29.2 Bcf/d in August, as July’s extreme temperatures eased, EIA says. Still, the administration expects that total natural gas consumption will grow by 1.8% to 67.3 Bcf/d in 2011.

WASHINGTON — The Henry Hub spot price averaged $4.31 per MMBtu in May, six cents higher than the April average and 11 cents higher than forecast in the agency’s previous report. This increase is reported amid growing consumption, even though inventories remain robust and the production forecast was “revised upward significantly.”

WASHINGTON — With winter ending and natural-gas prices holding steady, operators are focusing on the skyrocketing cost required to drive their routes.

Motorists currently experiencing a jump in pump prices will likely see further increases from now through spring since the recent increase in crude oil has not yet been fully passed through to gasoline prices, according to the U.S. Energy Information Administration’s (EIA) latest short-term energy outlook.

WASHINGTON — While 2010 natural-gas prices will end up slightly higher than 2009 prices, 2011 prices are trending just a bit lower than this year’s prices, according to the latest Energy Information Administration (EIA) short-term energy outlook.

The projected Henry Hub natural-gas spot price should average $4.37 per million Btu (MMBtu) for 2010, a $0.42-per-MMBtu increase over the 2009 average. EIA expects the Henry Hub spot price to average $4.33 per MMBtu in 2011.

WASHINGTON — As fall nears, laundry owners may be looking at slightly lower-than-expected costs for natural gas, according to the most recent U.S. Energy Information Administration (EIA) Short-Term Energy Outlook.

The government projections reflect updated expectations for economic activity, with forecasted U.S. real gross domestic product (GDP) growth of 2.8% in 2010 and 2.3% in 2011, down from the previous growth projections of 3.1% and 2.7%, respectively.

NEW YORK — Natural gas prices have dropped well below what they were last year, and they should stay that way well into 2010, according to a recent Associated Press report. The New York Mercantile Exchange contract for January delivery at one point last week dropped to a new 52-week low of $4.432 per 1,000 cubic feet.

ATLANTA — Drycleaners Byung Ho Cheoun, Shiraz Kurani and Hae Sook Chung have filed a federal lawsuit seeking class-action status on behalf of more than 600 Korean-American and other drycleaners, alleging natural gas provider Infinite Energy defrauded the businesses through exorbitant prices locked into three-year contracts signed following Hurricane Katrina.

WASHINGTON — According to the National Oceanic Atmospheric Administration’s (NOAA) most recent projection of heating degree-days, the lower 48 states are forecast to be 2.4% colder this winter compared to last winter, so households heating primarily with natural gas are expected to spend an average of $155 (18%) more this winter, according to the United States Energy Information Administration (EIA).