U.S. consumers will spend more to heat their homes this winter than last year due to surging energy prices, the U.S. Energy Information Administration (EIA) projected in its winter fuels outlook on Wednesday. Energy prices have risen sharply worldwide, causing power crunches in large economies like China and India. The United States has so far not seen the same effect, even though prices of fuels from natural gas to heating oil have risen to multiyear highs and will hit household finances as the weather turns colder. “As we have moved beyond what we expect to be the deepest part of the pandemic-related economic downturn, growth in energy demand has generally outpaced growth in supply,” EIA Acting Administrator Steve Nalley said in the release. “These dynamics are raising energy prices around the world.” Nearly half of U.S. households rely on natural gas for heat, with the […]