No matter how you heat your home, the cost is likely to soar this winter
Based on current estimates for fuel prices if, as forecast, there’s a slightly colder winter ahead, the EIA estimates that heating a home with natural gas heating costs will rise about $200 on average, or 28% to $931 for the winter. Still, that’s not as bad as heating oil costs, which are forecast to jump $1,200, or 27% to $2,354. Electric heating costs could rise $123, or 10%, to $1,359, while propane heating costs are expected to rise $80, or 5%, to $1,688.
But 80% of the homes using electric heat are in the South and the West, which require less heat than the Midwest or Northeast. Heating oil is only used in 4% of homes nationwide, with almost all of them in the Northeast. The cost estimates are based partly upon weather forecasts from the National Oceanic and Atmospheric Administration, which is projecting about a 6% increase in the number of days heating is needed, as weighted by population.
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