Looking at the year ago prices reveals startling trends in the key Henry Hub gas as well as the West Texas Intermediate and Brent Oil benchmarks.
One year ago Henry Hub Gas was $4.92 for a thousand cubic feet and yesterday $3.88 or down $1.04, about 20% from last year.
Brent oil one year ago was $76.56 and yesterday $106 or up 40%. WTI was $78.56 a year ago and $93.57 yesterday or up about 13%.
Oil is up 40% at Brent and Natural Gas is down 20%. The prices have completely delinked. So why are we using oil for 90% of our transportation fuel?