MEMPHIS, TN (abc24.com) - The price of natural gas is the second lowest it has been in eight years. Currently, the price per unit of gas to heat your home is around $3.24. When you compare this price heading into winter to the price of gas in 2005, MLWG says customers will be getting a bargain.
Glen Thomas, MLGW Corporate Communications, says, “Gas prices continue to remain very low. It might be slightly higher than last year, but compared to several years ago, gas prices are historically low.”
Last year, MLGW customers saved on average $110 over the course of the winter. In 2005, MLGW customers paid two and half times more to heat their homes. The price of natural gas that year climbed to more than $9 per unit. MLGW says the lower price this year is due to the overall national supply of gas. The national supply of natural gas exceeds the current demand, leading to lower prices per unit.
MLGW recommends keeping your thermostat on 68 degrees when you turn on the heat. For each degree higher, you add 4 percent to your bill.