High fuel prices have been a big driver of inflation, pumping up the cost of summer travel and air conditioning, and federal energy forecasters say that staying warm this winter will be more expensive as well.
Americans should expect bigger home-heating bills compared with last winter, thanks to higher prices for natural gas, heating oil, propane and electricity as well as slightly colder weather, the U.S. Energy Information Administration said in its seasonal outlook.
Government energy specialists predict that it will cost $931 to warm the typical home that is heated with natural gas between this month and March. That is up 28% from a year earlier in nominal terms. If it gets colder than federal weather forecasters expect, heating bills could be 51% more than last year for homes with gas-fueled furnaces and boilers, which is nearly half of U.S. households. A 19% year-over-year jump is anticipated if it is a warm winter.
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