Inflation & Prices
Americans Will Pay the Most in 25 Years to Stay Warm This Winter
- Households to see nearly 30% increase in natural gas, oil cost
- This winter expected to be colder than last year, EIA says
A Michlig Energy worker fills a tank with liquid propane gas at a home in Manlius, Illinois.
Photographer: Daniel Acker/Bloomberg
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Americans trying to keep warm this winter are poised to spend the most on heating in at least 25 years.
US households face an average power bill of $1,359 this winter, the highest since at least 1997, according to the Energy Information Administration. While much of that spike is driven by higher natural gas costs, homes that rely on oil for heat -- such as in the Northeast -- will be hit even harder, with an average bill of $2,354.