U.S. home heating bills expected to surge this winter -EIA By Reuters

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© Reuters. FILE PHOTO: The Skyline of New York Metropolis is seen coated by clouds through the move of a winter storm as it’s seen from Weehawken, New Jersey, U.S., February 25, 2022. REUTERS/Eduardo Munoz/File Photograph

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(Reuters) -U.S. customers can count on to pay as much as 28% extra to warmth their properties this winter than final yr as a consequence of surging gas prices and barely colder climate, the U.S. Vitality Info Administration (EIA) projected in its winter fuels outlook on Wednesday.

Practically half of U.S. households depend on for warmth, with the common winter heating price anticipated to rise to $931, up by 28% from final yr, EIA stated.

The common price to warmth a house with fuel final winter was $724, far cheaper than different main sources of warmth.

U.S. fuel costs on the Henry Hub benchmark had been up about 75% this yr as hovering world costs feed demand for U.S. exports as a consequence of provide disruptions and sanctions linked to Russia’s Feb. 24 invasion of Ukraine. [NGA/]

Electrical energy is the first heating supply for about 40% of properties. It’s dearer than fuel at an estimated $1,359 per family this winter – however that’s only a 10% improve from final winter.

Lower than 12 million properties depend on or propane – about 9% of the roughly 130 million U.S. households – however these fuels will stay the costliest sources of warmth this winter with price will increase of 27% to $2,354 for heating oil and 5% to $1,668 for propane.

Houses that depend on heating oil are concentrated within the Northeast, whereas the largest propane customers are within the Midwest.

EIA stated residential prices will rise to $15.95 per thousand cubic toes (mcf) for fuel, $2.32-$3.45 per gallon for propane, 14.8 cents per kilowatt-hour (kwh) of electrical energy and $4.54 per gallon for heating oil.

That compares with final winter’s residential prices of $13.02/mcf for fuel, $2.30-3.33 per gallon for propane, 14.0 cents per kWh of electrical energy and $3.90 per gallon for heating oil.

Originally published at Gold Coast News HQ