Experts Predict Hike in Natural Gas Prices

Natural gas is used in creating plastic, which is part of almost every purchase you make. Higher natural gas prices could also cut into American jobs.

Natural gas prices have been on the rise this winter, and experts think we'll see another major price hike before spring. While that hurts homeowners who heat with gas, it's really putting the crunch on businesses that rely on natural gas to create their products.

"When people think of natural gas, they think well I don't heat with gas, it doesn't effect me, but all your plastic is made from petroleum by-products. Which goes back to natural gas, so it affects everybody," says Debbie Golden, a business manager.

The only way businesses can deal with the increases is by passing them on to consumers, or by cutting jobs.

"We ultimately pay more for plastic, when petroleum goes up, ultimately have to raise our prices as well, so it’s a domino effect, and the customer has to pay for the product that you're making," says David Zajac of TM Polyfilm

People who have to deal with the price increases and have to pass them on to their loyal customers say the only hope is some kind of government regulation.

"It’s a monopoly, there's only three or four companies that control the whole thing, unless the government steps in and says "hey, enough" they'll just continue to raise rates," says Golden.

Increases that will cost every consumer.

Natural gas companies blame rising prices on a cold winter and increasing energy needs, which leads to high demand.


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