Prices rising and could continue to climb

Thursday, June 8th 2000, 12:00 am
By: News On 6

(Oklahoma City-AP) -- Natural gas prices have jumped more than 40 percent in the past month in Oklahoma.

That's great news for the industry but could mean higher heating bills for Oklahoma consumers this winter.

Tony Say is director of marketing for Oklahoma City-based Chesapeake Energy Marketing.

Say says high gas prices are expected to hold for the next year and could top $5.00 a thousand cubic feet.

The common price for western Oklahoma gas under June spot contracts is around $4.22.

That compares with $2.94 last month.

Say says prices haven't been this high since January.

Officials say supply and demand is driving up gas prices.

Don Sherry of Oklahoma Natural Gas says gas costs are passed to consumers without marking up the price.

But Sherry says if prices keep rising, the price of gas could make up the biggest part of consumers' gas bills.