Households Likely to Spend More on Heating this Winter
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November 1 Average household spending for space heating fuel this winter is likely to increase some 2.5% over last year, according to the latest forecast from the Energy Information Administration (EIA)
of the U.S. Department of Energy (DOE)
That means the average family will spend $986 for space heating from October 1 to March 31.
EIA expects moderately higher prices in all fuels, except electricity, where spending will decline some 2%. The forecast assumes these higher prices, but milder weather overall, which will lower consumption in many areas.
The lower-48 states are forecast to be 3% warmer than last year in October through March, and 1% warmer than the 30-year average, projects the National Oceanic and Atmospheric Administration (NOAA). [www.noaa.gov] But the project varies widely by region.
The Northeast is expected to be some 5% colder than last winter, while the South is projected to be 15% warmer.
Read and download the complete IA Short-Term Energy and Winter Fuels Outlook.