Experts say that you can expect to pay more for heating your home this year.
The Winter Fuels Outlook from the U.S. Energy Information Administration is bleak like the winter that may be approaching us.
The EIA says with prices surging worldwide for heating oil, natural gas, propane and electricity, you could see your heating bills jump as much as 54%, compared to last winter.
“We expect that households across the United States will spend more on energy this winter compared with the past several winters because of these higher energy prices and because we assume a slightly colder winter than last year in much of the United States,” the U.S. Energy Information Administration said in the report.
The worldwide energy crunch is also pressuring prices in an increasingly interconnected global system. In Europe, natural gas prices are up over 350 percent following a summer of high demand and low supply. That’s pulling some natural gas from U.S. producers on to ships for overseas markets.
Crude oil has climbed over 60 percent this year, pushing up closely tied heating oil prices.
Comments