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Cold snap is here: How to keep home heating costs down
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Consumers, already squeezed by inflation, are being warned well ahead of winter to take steps to keep their home heating costs down this year.
The National Oceanic and Atmospheric Administration expects a slightly colder winter this year than last year, meaning heating fuel prices will likely rise as Americans use more energy.
Recently, the U.S. Energy Information Administration forecasted that many households across the U.S. are likely to spend more on energy this winter compared to recent years. The EIA expects natural gas will rise by 28%, heating oil by 27%, electricity by 10%, and propane 5% from October–March.
US GOVERNMENT SAYS ALL AMERICANS WILL PAY MUCH MORE FOR NATURAL GAS THIS WINTER
"Higher forecast energy expenditures are the result of higher fuel prices, combined with higher heating demand because of a forecast of slightly colder weather than last winter," the EPA said in its report.