Oct. 18, 2004: Home Heating Bills To Go Up 15 Percent This Winter
WASHINGTON - A colder winter and higher fuel prices are likely to drive up residential heating bills an average of 15 percent this winter, according to a report released by the Department of Energy's (DOE's) Energy Information Administration (EIA).
The EIA expects elevated crude oil prices to result in higher prices for heating oil, natural gas, and propane. Heating oil users will take the biggest hit, with a 29 percent increase in prices, although a slightly warmer winter in the Northeast is expected to hold the increase in those households' heating bills to 28 percent. The EIA says inventories of heating fuels are sufficient to avoid price spikes from surges in demand under most circumstances.