The United States could be in for a long, expensive winter when it comes to heating costs, according to the U.S. Energy Information Administration. It looks like the area with the most to worry about is east of the Rocky Mountains.
Here’s what the breakdown of costs could look like for each type of heating:
- Natural Gas
Households who use natural gas to heat their homes could see an increase of about 22 percent in heating costs or about $116 when compared to last winter. This is due the possible increase in consumption as well as an increase in price.
Residential gas prices are forecast to increase 11 percent higher than prices last winter, with consumption forecast to increase 10 percent from last winter.
- Heating Oil
With retail prices going up, households who rely on heating oil will spend an average of $378 more this winter, or 38 percent. Retail prices for heating oil are expected to be 20 percent higher and consumption 15 percent higher than last year. Nationwide, only about 5 percent of households se heating oil.
Electricity users are only looking at a five percent increase this winter with an average of $49 more than last year. This is due to a 5 percent higher consumption rate, which includes both heating and non-heating uses of electricity. Also, residential electricity prices are about one percent higher than last year. Thirty-nine percent of U.S. households rely on electricity as their primary heating source.
No matter what type of weather this winter brings, one way to save money on heating this year is to have the furnace serviced now. Finding furnace problems and fixing them before they cause breakdowns will help homeowners save money and stay warm. It’s crunch time, so call Diamond Heating and Cooling now to get the HVAC system checked.