Natural gas prices fall again on supply concerns

Friday, March 23, 2012, Vol. 36, No. 12

NEW YORK (AP) — Natural gas prices are falling again amid doubts that a huge surplus of the fuel will be depleted anytime soon.

Natural gas futures fell 2.9 cents on Tuesday morning to $2.197 after dropping 4.9 cents on Monday. That's a 10-year low and half of what gas was fetching back in July. Oversupply and mild winter weather are behind the plunge.

Any savings on natural gas may be going into the gasoline tank. The national average for regular gasoline in the U.S. is $3.90 per gallon, up 17 cents in March and 62 cents since Jan. 1.

Meanwhile, oil prices rose slightly a day after Federal Reserve Chairman Ben Bernanke suggested that the central bank would continue its efforts to help spur U.S. job creation and economic growth.