The Board of Mayor and Aldermen will discuss reducing the city’s gas rates when it meets Wednesday, Mayor Paul Winfield said.

Natural gas prices last week dropped to below $2 per thousand cubic feet, or mcf, for the first time since 2002, and were at $1.95 per mcf Wednesday.

The city’s residential and industrial natural gas prices are set by ordinance and must be amended by the board to change the gas rates.

Winfield and North Ward Alderman Michael Mayfield had said Friday the board was expected to discuss amending the city’s ordinance to reduce gas rates Monday, but Winfield postponed it. The mayor said he wanted to meet with city purchasing agent Tim Smith to discuss the gas rates before taking action.

He said he would hold a work session on gas rates before the board meeting.