Oct. 15, 2007: EIA Foresees Colder Winter With Rising Fuel Costs
Average winter-season prices for all space-heating fuels are projected to be higher than last winter. Also, according to the National Oceanic and Atmospheric Administration’s (NOAA’s) most recent projection of heating degree-days, winter in the lower 48 states is forecast to be 4 percent colder compared with last winter. Because of the expected colder weather, U.S. heating fuel consumption is projected to increase compared with last winter.
Those using natural gas for heating are expected pay $78 more for heating this winter, a 10 percent increase. Those using heating oil can expect to pay $319 more, a 22 percent increase. Those using propane are expected to pay $221 more, a 16 percent increase. Prices are staying about the same for those using electric heat, but they’re expected to pay $32 more this winter, a 4 percent increase, due to the forecasted colder weather this winter.
Publication date: 10/15/2007