Natural gas prices jump 25% as winter storm approaches

“The severe cold will manifest itself in very expensive natural gas bills arriving in February,” Tom Kloza, an oil analyst, said in an email.

A report from the National Energy Assistance Directors’ Association last month projected that the average household could expect to pay more to heat its home this winter, spending nearly $1,000 from mid-November to March.

Consumers are already grappling with affordability concerns surrounding housing costs and grocery bills, among other costs, and amid a weakened labor market.

President Donald Trump vowed to slash energy and electricity prices in half during his most recent presidential campaign.

The U.S. Energy Information Administration said it expected the cost of natural gas to decrease in 2026 but rise in 2027, according to its Short-Term Energy Outlook released Jan. 13, saying that “growth in demand—led by expanding liquefied natural gas exports and more natural gas consumption in the electric power sector—will outpace production growth.”