Sat, 04 Dec 2021

WASHINGTON D.C.: US households can expect heating bills to soar as high as 54 percent, compared with last winter, as prices for heating oil, natural gas and other fuels across the world rise sharply.

In the U.S., nearly half of all homes use natural gas for heat, and could end up paying an average $746 this winter, 30 percent more than one year ago.

Those in the midwest would be particularly affected, with bills jumping an estimated 49 percent, the most expensive winter for natural gas heated homes since 2008-2009.

The second-most used heating source for homes is electricity, used in 41 percent of homes, and those households could see a more modest 6 percent increase costing $1,268.
Homes using heating oil, which make up 4 percent of the country, could see a 43 percent increase more than $500 to $1,734.

This winter is forecast to be slightly colder across the country than last year.

The forecast from the U.S. Energy Information Administration is the latest reminder of the higher inflation ripping across the global economy.

The main reason for the high heating bills is the recent rise in energy commodity prices, which had dropped to multi-year lows in 2020. Demand has grown faster than production, as the economy bounces back to life following shutdowns caused by the coronavirus.

Another reason for the rise in prices is due to greater demand for energy worldwide.

More Australia News

Access More

Sign up for Australian News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!