Winter Energy Costs Higher but Oil Users May Get Break
Home heating costs are expected to grow this winter because of projections of colder weather and people continuing to shelter at home due to the pandemic. But many could get a break in New England, which is heavily dependent on heating oil.
The U.S. Energy Information Administration projects a 10% decline in spending for home heating oil this winter while spending for propane is projected to grow 14%. There are projected increases of 6% for natural gas, and 7% for electricity.,
Many families were already struggling to pay utility bills because of the pandemic, so any increase is a concern, said Mark Wolfe of the National Energy Assistance Directors Association in Washington, D.C.
Oil prices remain depressed around the world, and nearly 20% of homes in the Northeast rely on oil furnaces for their primary heating source, according to the U.S. Energy Information Administration.
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