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7h ago

NEADA Forecasts Bigger Winter Heating Bills, Oil Users to See Roughly 31% Jump

Rising crude and diesel prices from regional conflicts raise household aid needs, delivery costs, program strain

Oil-heat customers will see their costs skyrocket this winter.
FILE - Homes are seen covered with freshly fallen snow on February 8, 2019, in Seattle. (Photo by David Ryder/Getty Images)
Tommy Cole Jr. is concerned about how he and his family will stay warm this winter as heating oil prices skyrocket.
Photo by Ethan Miller/Getty Images, file

Overview

  • NEADA published a seasonal forecast Monday that projects U.S. winter heating costs will rise 8.7% overall and that heating oil prices will climb about 31.3% this season.
  • The group estimates the average household will spend about $1,030 on heating from mid-November through mid-March, roughly an $80 increase from last winter.
  • The Northeast and New England face the heaviest burden because many homes there rely on heating oil and because retail electricity rates are relatively high in the region.
  • Reporters link the price surge to higher wholesale crude and diesel driven by conflicts in the Middle East, the Ukraine war and shipping disruptions, and NEADA has asked Congress for an extra $3 billion for LIHEAP while state allocations remain pending.
  • Local agencies warn higher prices and costly diesel for delivery trucks could make small oil deliveries uneconomical, and experts are urging quick energy-efficiency fixes and approval of state rebate programs to reduce bills.