Your heating bill is expected to go up. JinjLee explains what determines your bill and what region could be the hardest hit. WSJWhatsNow
Gasoline prices have receded, but heating costs will be the next source of sticker shock, depending on where you live
The Northeast has all the ingredients for a perfect storm this winter when it comes to heating costs.Heating bills are about to deliver an unpleasant jolt to American households. In a November report, the U.S. Energy Information Administration said it expects retail natural gas heating expenditures this winter to increase by 25% on average and electricity bills to rise 11%. Households using heating oil will see an even bigger shock: EIAtend to capture consumers’ attention immediately, heating bills comprise almost as much wallet share as gasoline. In 2021, the average American consumer spent roughly $179 on gasoline and $176.
While part of the tightness is due to a lack of local refining capacity, much is global in nature. The U.S. and U.K.’s
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