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As part of the Gas Price Relief Act, NOPEC (H.R. 6074) was then passed in the House of Representatives, in May 2008, by a vote of 324–84. [5] [11] President George W. Bush reiterated his previous promise to veto the bill. [12] Under a continued veto threat, a team of senators reintroduced the bill just a week before President Bush left office ...
Price per million BTU of oil and natural gas in the US, 1998-2015. Natural gas prices, as with other commodity prices, are mainly driven by supply and demand fundamentals. However, natural gas prices may also be linked to the price of crude oil and petroleum products, especially in continental Europe.
The average price of a gallon of gas stood at about $3.10 a gallon as of Monday, according to AAA, unchanged from Sunday’s price reading. Diesel prices were trading up 10 cents a gallon.
Natural gas prices in the Permian Basin, West Texas, went below zero more than once in 2019. Natural gas is produced there as a byproduct of oil production, but production has increased faster than the construction of pipelines to transport natural gas. Oil production in the Permian Basin is profitable, so the natural gas continues to be ...
In the U.S., utility gas prices in September were 70% higher than in recent years. Europeans, who already pay much higher for natural gas, saw bills rise sharply by 50% — for example, in Estonia.
And in Europe, natural gas prices jumped to 2024 highs this past week after Ukrainian troops crossed into Russia and claimed the capture of a key gas transit hub.
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