Higher Home Heating Costs Could Burn a Hole in Your Wallet This Winter

“Are we going to be able to pay this and afford this? How high is it going to go?” one homeowner said

Aitor Diago / Getty Images

Pandemic-battered families face skyrocketing heating costs this winter, with year-on-year prices set to rise by as much as 54% for some households, according to the annual winter fuel outlook released this week from the Energy Information Administration.

“We expect that households across the United States will spend more on energy this winter compared with the past several winters because of these higher energy prices and because we assume a slightly colder winter than last year in much of the United States,” the U.S. Energy Information Administration said in the report.

Prices are forecast to rise by more than 40% for households who use heating oil, affecting the Northeast in particular; and will increase 30% for natural gas and 54% for propane. Those who heat with electricity could see 6% increases.

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