Heating bills set to soar as inflation hits energy
NEW YORK (AP) — Get ready to pay sharply higher bills for heating this winter, along with seemingly everything else.
With prices surging worldwide for heating oil, natural gas and other fuels, the U.S. government said Wednesday it expects households to see jumps of up to 54% for their heating bills compared to last winter.
The sharpest increases are likely for homes that use propane, but others are also likely to see big increases. Homes that use natural gas, which make up nearly half of all U.S. households, may spend $746 this winter, 30% more than a year ago. Homes using heating oil could see a 43% increase, and those heated by electricity could see a more modest 6% increase.
This winter is forecast to be colder across the country than last year. That means people will likely be burning even more fuel to keep warm, on top of paying more for each bit of it.