U.S. consumers can expect to pay up to 28% more to heat their homes this winter than last year due to surging fuel costs and slightly colder weather, the U.S. Energy Information Administration (EIA) projected in its winter fuels outlook on Wednesday. Nearly half of U.S. households rely on natural gas for heat, with the average winter heating cost expected to rise to $931, up by 28% from last year, EIA said. The average cost to heat a home with gas last winter was $724, far cheaper than other major sources of heat. U.S. gas prices at the Henry Hub benchmark were up about 75% this year as soaring global prices feed demand for U.S. exports due to supply disruptions and sanctions linked to Russia’s Feb. 24 invasion of Ukraine. Electricity is the primary heating source for about 40% of homes. It is more expensive […]

Posted in: USA