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Southern California’s natural gas shock lasted two months

What with summer here, I had forgotten all about Southern California's huge spike in natural gas prices during the winter. Whatever happened to that? Here's the answer:

The whole thing lasted two months. Daily spot prices shot up in December from 100¢ per therm to 500¢ per therm and were back to 100¢ by February. The price charged by SoCal Gas is a monthly average and trails spot prices by a few weeks. The peak was 350¢ per therm in January and was back down to 100¢ by March.

The current spot price is 30¢ per therm. The current SoCal Gas procurement price is 40¢. Both are considerably lower than they were at this time last year.

Why did the price shock last such a short time? Two reasons: Unexpected chilly winter temps started to abate and a closed pipeline from Arizona was re-opened in mid-February. By early March everything was back to normal.

3 thoughts on “Southern California’s natural gas shock lasted two months

  1. Eve

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  2. jte21

    This isn't possible because I was told the spike in gas prices was forever because Joe Biden is a tree-hugging communist who banned all fossil fuels or something and now we're all going to die I hope you libs are happy.

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