US Heating Oil Bills to Jump 31.3% to $2,300 This Winter as Iran War Lifts Fuel Prices
Updated
Updated · CNN · Sep 14
US Heating Oil Bills to Jump 31.3% to $2,300 This Winter as Iran War Lifts Fuel Prices
3 articles · Updated · CNN · Sep 14
Summary
$2,300 is the projected seasonal cost for US households that heat with oil, up 31.3% from last winter, according to NEADA’s latest forecast.
Heating oil is expected to average $5.56 a gallon as the US-Iran war pushes up crude, diesel and gasoline prices, leaving many Northeast households deciding whether to fill tanks now or wait.
8.7% is the forecast increase for overall winter heating costs, with electric heat up 9% and natural gas up 5.8% even though a warmer El Niño winter should limit demand.
$3 billion in extra LIHEAP funding is being sought by NEADA on top of the program’s current $4.1 billion, as agencies warn last year’s typical aid of just over $1,000 may now cover only about three-quarters of a tank.
4% of US households use heating oil nationwide, but the fuel is far more common in New England and the Mid-Atlantic, where rising delivery costs could push a single 100-gallon fill-up toward $700 to $800.