Natural Gas Prices Surge as Major Winter Storm Nears

Natural gas prices surged sharply Tuesday, adding pressure on households facing a brutal winter, NBC News reports. The spike—about 25% in a single day—comes as a massive winter storm is expected to hit roughly half the United States with freezing temperatures, ice, and heavy snow starting Friday and continuing into next week, according to the National Weather Service. Since many homes rely on natural gas for heating, the timing is especially painful. The Wall Street Journal notes that Tuesday’s jump ranks among the largest daily increases in years, and MarketWatch says the Northeast could face its toughest test for heating oil and natural gas markets in a decade.

Households are already struggling with high energy bills. Oil analyst Tom Kloza warned that the cold snap will soon show up in monthly statements: “The severe cold will manifest itself in very expensive natural gas bills arriving in February.” The National Energy Assistance Directors’ Association recently estimated that the average household could spend nearly $1,000 on heating between mid-November and March.

The pressure comes amid broader financial strains, including rising housing and grocery costs and a soft labor market. It also highlights political promises. President Trump campaigned on halving energy and electricity costs, but federal forecasters see no easy path to relief. The U.S. Energy Information Administration predicts that natural gas prices may ease in 2026 but rise again in 2027 as demand—from liquefied natural gas exports and power generation—outpaces production.

Businesses are feeling the impact as well. Rising natural gas prices or limited supply may push some commercial users to switch to other fuels, which can create ripple effects across the energy market. Kloza noted that “soaring natural gas prices and a lack of availability can have pretty drastic impacts on diesel, heating oil, kerosene, and other liquid fuels” too.

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