Present Cost Of Natural Gas
With fuel prices rocketing to the sky, it is no wonder that more and more people are thinking of opting for vehicles driven on natural gas. While the markets worldwide have not experienced relief from the cost of gas going up, the pricing of natural gas has offered consolation to some. |
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On July 16, natural gas prices came down. Markets across the Lower 48 States saw the rate falling more than $1 per MMBtu. Cost was almost $1.26 per million Btu at the Henry Hub.
Price of natural gas for the month of August has already been decided as $9.788 per MMBtu. This is a regression by almost $1.61 or approximately 14 per cent, compared to the price on July 16.
West Texas Intermediate (WTI) priced crude oil at $123.73 per barrel or $21.33 per MMBtu. This is a decrease of $10.90 per barrel. This makes the crude oil prices low by $21.58 per barrel which is way less than the $145.31per barrel which was a record rate on July 3.
Natural gas resource on July 18 was 2,396 billion cubic feet. This is around one per cent less than the average from 2003-2007. It means that there has been a net injection of 84 billion cubic feet.
The decline in price of natural gas is thanks to the fact that speculations regarding its sufficiency have been laid to rest. Also oil prices have marginally reduced recently, contributing to the lowering of natural gas rates.
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For a long time now, scientists and environmentalists have been searching for an alternative to fuel that can run cars. At the same time, it should not be heavy on the budget. Some feel that the best option available in lieu of crude oil is natural gas. 
