Questar asks to lower Utah natural gas prices

- SALT LAKE CITY (AP) - Questar Gas is asking Utah regulators to reduce customers' rates as the price of natural gas keeps dropping.

The company says it requested a $13.3 million reduction this week, which officials say would lower the typical homeowner's gas bill by about $11.44 per year, or 1.68 percent, if it's approved.

Questar Gas Chief Operating Officer Craig Wagstaff says there's an oversupply of natural gas nationwide, and the price the company pays for it is about as low as its been in a decade.

Much of the price drop comes from an increase in fracking, or hydraulic fracturing, which allows drilling companies to reach pockets of gas that were previously inaccessible.

Wagstaff cautioned that the prices can fluctuate as supply and demand changes.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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