A forecast released by the Energy Information Administration this month predicts warmer weather and lower heating bills this winter. For homeowners heating with natural gas, oil or propane, costs will go down significantly while the cost of electricity is expected to be the same as last winter.
On average, homes heated with natual gas will see bills reduced by 10 percent, those with oil will see a 25 percent drop, those with propane a 18 percent drop and those with electricty a 3 percent drop.
“If winter temperatures come in as expected by U.S. government weather forecasters, U.S. consumers will pay less to stay warm this winter no matter what heating fuel they use,” Adam Sieminski, administrator of the Energy Information Administration, said in a statement.
These projections come on the heels of falling gas prices. Regular gasoline monthly retail prices averaged $2.37 a gallon in September, a decrease of 27 cents a gallon from August and $1.04 a gallon lower than in September 2014. The EIA expects monthly gasoline prices to decline to an average of $2.03 a gallon in December.
Current Issue - May 2024