Household costs for heating fuel to increase this winter (1/24/2018)

EIA expects that U.S. average household expenditures for heating oil and propane for the 2017–18 winter will be higher than last winter according to the January Short-Term Energy Outlook (STEO). Compared with last year, higher crude oil prices and lower inventory levels are putting upward pressure on the prices for heating fuels (Figure 1). In addition, forecasts for a colder winter than last year—one of the warmest on record for much of the United States—are expected to increase heating fuel consumption. As a result of increased prices and higher consumption, EIA expects average household expenditures for heating oil and propane to increase from last year’s levels. ... More »