Jan 8, 2018

Why Did New England Gas Prices Jump Nearly 90%? Blame Severe Storm

Boston, MA
USA
by
Stephanie Yang
,
Wall Street Journal
Vehicles driving through the snow on Atlantic Avenue in the Brooklyn borough of New York City on Thursday. Photo: Drew Angerer, Getty Images
Vehicles driving through the snow on Atlantic Avenue in the Brooklyn borough of New York City on Thursday. Photo: Drew Angerer, Getty Images

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.

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“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.”