Northeast Heating Costs Expected To Jump Higher

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The New York Sun

WASHINGTON – Home heating costs in the Northeast will jump hundreds of dollars this winter, with natural gas prices rising 29% and heating oil prices jumping 28%, according to new government figures released yesterday.


The Department of Energy’s monthly outlook for winter heating fuel costs is actually slightly more optimistic than their previous estimate, which feared an even greater price spike as a result of hurricanes in the Gulf Coast.


The agency, however, is warning homeowners in New York and around the nation to expect to pay far more this year to heat their homes than they did last year.


Nationally, natural gas bills are expected to be an average of $306 more, and those buying oil are expected to pay $325 more, the agency said. Those numbers also assume some homeowners cut back demand slightly because of the high prices.


The government expects a gallon of heating oil to cost $2.47 in the Northeast, and a thousand cubic feet of natural gas to fetch $16.69.


Lawmakers from northern states are clamoring for the government to boost aid to help compensate for the expected price spike. Senator Clinton said the higher prices will force New Yorkers to pay an additional $1.7 billion in heating bills this winter.


The New York Sun

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