Why Did New England Gas Prices Jump Nearly 90%? Blame Severe Storm
A major winter storm pounding the East Coast is driving up heating demand and energy prices, as the eastern half of the U.S. grapples with a stretch of extreme cold not seen in years.
“This cold spell that started almost two weeks ago now really is longer than anything we ever saw during the polar vortex,” said John Borruso, director of natural-gas trading for Con Edison Energy. “This cold has really stressed the natural gas market from a physical perspective.”