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inter, apparently, saw your grocery bill and decided it wanted in too. Americans who warm their homes with oil could see bills rise by roughly 50% this winter, according to a recent analysis from the National Energy Assistance Directors Association.
Burning money
Over 4 million US households rely on heating oil, leaving the Northeast particularly vulnerable since the region consumes around 82% of the nation's supply.
The US Energy Information Administration expects:
Prices to average $5.26 per gallon, a 34% increase from last winter.
Average seasonal costs could top $2,600 per household.
Why will this year be more expensive? You’re probably familiar if you’ve been reading the newsletter as of late. War in the Middle East and Ukraine has disrupted fuel supplies, significantly driving up prices.
Meanwhile, the rest of the nation could see a decrease: Households using natural gas could see heating costs drop 9%, while propane users may save 3%, thanks to strong US reserves and less dependence on oil prices.
What can you do about it?
Several Northeastern states are already trying to soften the impact:
Massachusetts, Rhode Island, and Maine have declared energy emergencies or opened up relief funding.
Several lawmakers are also pushing for more federal assistance
What’s a general tip that applies to everyone? The Energy Department recommends weatherization measures like sealing drafts and adding insulation, which one expert estimates could slash your energy bills by about 10%.
