Higher Heating Prices Likely This Winter

Even with a normal winter, consumers are likely to spend an average of $190 to $240 more this year to heat their homes if they use natural gas or oil, an Energy Department report predicted. With an expectation that colder weather will return this year after three mild winters, the report said a long cold spell could strain supplies of natural gas and heating oil despite the introduction of emergency oil supplies from a government reserve. The Energy Information Administration said prices for residential heating oil averaged $1.34 a gallon in September, about 44 cents a gallon more than a year ago. Spot prices for natural gas averaged $4.96 per thousand cubic feet in September, nearly double the price a year ago.