CHARLOTTE, N.C. — Keeping your home warm and toasty could come with a chilling price tag this winter.
Let's connect the dots.
Many folks heat their homes using natural gas. According to a report from CNBC, natural gas prices have doubled in the past year.
You can probably guess what's to blame. That's right, the pandemic. When everyone started stayed home, the prices of gas and oil fell.
As a result, companies did not invest in as many new wells so the supply of new fuel is limited.
There's also less natural gas in storage after this summer's historic heatwave. Lots of folks had the air conditioner on full blast, meaning less gas was stored away for the winter months.
With prices already high, experts say one good cold snap, especially early in the season could send your bills soaring.
Analysts at Goldman Sachs say prices could double again if we see an especially cold winter so be sure to bundle up.
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