PA Environment Digest Blog: Independent Fiscal Office: Cost Of Gasoline, Energy Utility Bills Up 33% From Last Year [Driven By Spike In Oil, Natural Gas Prices On Foreign Energy Markets]

In a report dated June 8, the Independent Fiscal Office reported the cost of energy-- gasoline and utility bills-- to households in Philadelphia increased 33 percent from the prior years.

The IFO also reported the cost of energy started to go up dramatically in the summer of 2020, according to the IFO graph of rising costs.

As multiple media outlets have reported, this increase in energy prices was driven by the spike in oil and natural gas prices on foreign energy markets that directly affect what the U.S. pays for energy.

Click Here for a copy of the report.

NewsClips:

-- Independent Fiscal Office Reports Lowest Quarterly Natural Gas Production In PA Since 4th Quarter Of 2020, First Decrease In Production Growth Since 2018 [PaEN]

-- Scranton Times: Natural Gas Development Boom Reboot Predicted In PA

-- WSJ: Why Shale Drillers Are Pumping Out Dividends Instead Of More Oil And Natural Gas

-- Bloomberg: Natural Gas Tops $9 In U.S. As Supply Crunch Concerns Mount

-- Natural Gas Intel: LNG Demand Seen Driving Natural Gas Prices Higher This Summer, FERC Says

-- Reuters: U.S. Drillers Keep Number Of Oil, Natural Gas Rigs Unchanged This Week

-- Natural Gas Intelligence: Oil, Natural Gas Prices Drive Sustained Surge In Inflation