Heating Bills Are Expected to Spike in US This Winter: Federal Agency

Contact Your Elected Officials
The Epoch Times Header

The average heating cost for a U.S. household is forecasted to see a double-digit increase this winter, according to the U.S. Energy Information Administration (EIA) in its October winter fuels outlook (pdf).

Retail energy prices are expected to approach โ€œmultiyear highsโ€ due to supply and demand changes following the pandemic, as well as a colder winter ahead.

Forecasted cost hikes include propane by 54 percent, heating oil costs by 43 percent, natural gas costs by 30 percent, and electricity costs by 6 percent.

With natural gas consumption projected to rise by 3 percent this winter, households are expected to spend $746 this winter, up from $573 the previous winter.

The increase in natural gas heating costs varies by region with the Midwestern United States leading the price hike at a 45 percent increase from the previous winter, while the Northeast is expecting a hike of 14 percent.

Nearly half of all U.S. households use natural gas as the primary source of heating. Households relying on heating oil over winter will spend $1,734 over the winter, relative to $1,212 the previous year.

Houses in Northeastern regions will be more affected by the price hike, as nearly one in five homes in the region relies on heating oil as their primary source of space heating.

The projection is based on the Brent crude oil price, which helps determine the prices of U.S. petroleum products.

โ€œThe higher forecast Brent crude oil price this winter primarily reflects a decline in global oil inventories compared with last winter as a result of global oil demand that has risen amid restrained production levels from OPEC+ [Organization of the Petroleum Exporting] countries,โ€ the EIA outlook reads.

While most households commonly use electricity for heating, 41 percentย rely on electricย heat pumps or heaters as their primary source for space heating.

These homes should expect to spendย $1,268 this winter season, relative to $1196 the previous year. This projection accounts forย 3 percentย more residential electricity demand with more Americans working from home, a colder winter, and a rise in fuel costs for power generation.

Byย Tammy Hung

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Remember Epsteinโ€™s โ€œLittle Black Booksโ€?

Image of Bill Clinton getting a massage from Jeffrey...

On the Major Leagueโ€™s periphery: A major trip through the minors

For Nick Dunn, the trek through the minors is a trifecta of physical, mental, and organizational hurdles filled with politics, roster volatility, and injuries.

Private Citizens are Now Looking into Epstein Client List

Most Americans have never felt so betrayed and confused by a president and his admin as they are by the Trump admin over the Epstein client list issue.

Peace In Ukraine Wonโ€™t End The Westโ€™s Hybrid War On Russia

The Westโ€™s Hybrid War on Russia to follow peace in Ukraine is inevitable due to neoconservatives and liberal-globalists in its decision-making ecosystem.

Epstein Case Closed?

The DOJ and FBI announced on Sunday evening of the July 4th holiday weekend that Jeffry Epstein had no client list and didnโ€™t kill himself in prison.

Trump Visits Central Texas, Epicenter of Catastrophic Flood That Killed More Than 120

President Trump landed in Central Texas for first-hand look at damage from devastating flood claiming the lives of more than 120 people statewide.

Federal Judge Blocks Trumpโ€™s Birthright Citizenship Order After Supreme Court Ruling

Judge barred Trump admin from enforcing EO limiting birthright citizenship, after Supreme Court restricted judges from issuing nationwide injunctions.

California Might Stop Making Necessary Debt Payments for 2 Years

California State Legislature met the budget submission deadline and it was signed by the governor, but they still need to cut $12 billion in spending.

MP Materials Secures Rare Earths Deal With DOD, Shares Surge 50 Percent

MP Materials Corp. announced a public-private partnership with the DOD to build out rare earth magnet supply chain and reduce dependency on China.

Trump Says US Has Struck Deal With NATO to Supply Weapons to Ukraine

President Donald Trump said on July 10 that he has struck a new deal with NATO under which the United States will supply weapons to Ukraine

RFK Jr. Bans Illegal Immigrants From Government-Funded Programs

HHS Sec. Robert F. Kennedy Jr. is rescinding a 1998 interpretation of a law that allowed illegal immigrants to access certain government-funded programs.

Rubio Set to Visit Malaysia for ASEAN Meetings Amid Tariff Tensions

A delegation including U.S. Sec. of State Marco Rubio will travel to Kuala Lumpur, Malaysia, for series of high-profile meetings between July 11 and 12.

US Will Collect More Than $300 Billion in Tariff Revenues This Year, Treasury Secretary Says

U.S. is on track to potentially raise โ€œwell over $300 billionโ€ in tariff income by end of the year, Treasury Sec. Scott Bessent said during WH Cabinet meeting.
spot_img

Related Articles