Heating costs are expected to plummet this winter
That's the projection from the Energy Information Administration, which said Americans will spend less this year compared to 2014, regardless of whether they use natural gas, propane, or heating oil. That's because prices for these fuels have fallen.
In its latest short-term energy outlook released Tuesday, the EIA projects that bills on homes that use heating oil will be about 25% cheaper compared to last year, and 10% less on natural gas.
Even if this winter turns out to be 10% colder than forecast, costs are still expected to drop 16% and 4% respectively.
Bills would be 17% less for natural gas, which heats nearly half of all American homes.
Residential electricity costs will, however, stay the same compared to last year.
The EIA's winter period covers October 1 through March 31.
Here's the breakdown by different fuel types; the upshot is that bills are likely to be cheaper across the board.
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Bitcoin scam case: ED attaches assets worth over Rs 97 cr of Raj Kundra, Shilpa Shetty
- IREDA's GIFT City branch to give special foreign currency loans for green projects
- 8 Ultimate summer treks to experience in India in 2024
- Top 10 Must-visit places in Kashmir in 2024
- The Psychology of Impulse Buying