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Natural Gas Prices Nearly Twice As High As Last Year

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Peoples Gas and North Shore Gas customers are paying double what they paid last year. The company predicts prices will likely stay high through the winter when they’ll really pack a punch. Rod Sierra is a spokesman for the companies.

SIERRA: We as a utility buy gas on the global markets. It is very closely linked to oil and as we all know oil has continued to go higher and higher on the global markets and natural gas is much like that.

Sierra says the companies pass their costs directly to consumers. David Kolata with the Chicago-based Citizens Utility Board says he’s skeptical. He says it’s not clear what the gas companies are paying so it’s hard to know how fair the increase is.

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