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 “multiyear highs” 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 …
Heating Bills Are Expected to Spike in US This Winter: Federal Agency
October 14, 2021
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