The drop in natural gas prices will reduce home heating costs by about $671 per home this year, according to the Energy Information Agency.
NEW YORK (CNNMoney) -- Good news for homeowners: Natural gas prices are the lowest they've been in years. And they're expected to fall even further, thanks to growing production and slack demand.
Natural gas is used to heat about half the homes in America, so that will mean lower energy bills for those households. They'll spend an average of $671 this year, according to the Energy Information Agency (EIA), about $50 less than last year. That compares to a whopping $2,383 for households that use oil heat.
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