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Americans heating their homes this winter face a stark cost divide
Fox Business • • business
Key Points:
- The Energy Information Administration (EIA) forecasts that U.S. households using natural gas and propane for heating, about half of all households, will see lower energy expenditures this winter due to decreased fuel costs.
- Homes heated primarily by natural gas are expected to spend 9% less on heating compared to last year, with regional variations including a 7% increase in the West and 10-15% decreases elsewhere.
- Propane-heated homes may spend 3% less overall, with the Midwest and Northeast seeing notable declines, while the South's spending is expected to remain flat.
- Conversely, households relying on electricity or heating oil for heat are projected to face higher costs, with heating oil expenditures rising 21% nationally and electricity costs increasing by 4%.
- The EIA's outlook assumes temperature variations influenced by a strong El Niño, with warmer conditions expected in the Northeast and colder weather in the West, which could cause deviations from the forecasted energy spending.
