Released: August 25, 2008

Heating bills may burn through wallets

Source: Barbara Hagenbaugh, USA Today

Consumers may be enjoying some relief at the gasoline pump, but another energy shock likely is just around the corner.
Winter bills for heating oil, natural gas and electricity are expected to soar to records, putting a renewed crimp on household budgets.

Heating oil customers are forecast to see the biggest increases, according to the Energy Information Administration, the non-partisan statistical arm of the U.S. Energy Department. Heating oil users will pay $2,644 on average to heat their homes this winter, up 36.3% from last year. Homeowners with natural gas, the most popular heating source in the USA, will pay $1,059, a 23.8% increase, according to the EIA’s early forecast.

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