Budget For A 10% Increase In Heating Costs This Year

Colder temperatures and higher fuel prices are going to hit consumers in the wallet this winter, according to estimates from the government. Depending on your fuel of choice, heat could cost from 4%-22% more, though most households will see an increase of 9.5%.

Here’s the breakdown from MarketWatch:

Most households use natural gas for heating. Those 59 million households can be expected to pay $891 to heat their homes, up $78, or 9.5%, from last year.
The 31 million households that use electric heat will pay about $855 this winter, up $32, or 4%.
The 8 million households that use heating oil can expect to pay $1,785 this winter, up $319, or 22%.
The 5 million households that use propane will pay about $1,570 this winter, up $221, or 16%.

Adjust your budgets now if necessary; be happy later.

Heating bills to be about 10% higher this winter