High winter heating bills may burn through wallets

WASHINGTON


Heating oil customers are forecast to see the biggest increases, according to the Energy Information Administration, the non-partisan statistical arm of the U.S. Energy Department. Heating oil users will pay $2,644 on average to heat their homes this winter, up 36.3% from last year. Homeowners with natural gas, the most popular heating source in the USA, will pay $1,059, a 23.8% increase, according to the EIA’s early forecast.

The EIA’s projections are based on government meteorologists’ expectations for a winter that is colder than last year but warmer than the average seen from 1971 to 2000. An especially cold winter would hit household budgets even harder.

“If we ever needed a mild winter, we need it now,” says Peter Beutel, head of energy-price consultant Cameron Hanover.

USA Today