Tag: winter

New Englanders Will Pay 65 Percent More to Heat Their Homes This Winter

Admin

The price of heating oil, a fuel most commonly used in New England to heat homes, has gone up by 65% since October 2021, according to the Energy Information Administration.

The average price for the oil was $5.46 per gallon in October 2022 compared to $3.30 in October 2021, due to refining constraints and low stockpiles of the fuel, according to a Nov. 17 notice posted by the EIA. Inventories of distillate fuel oil, which is refined to produce diesel and heating oil, are at their lowest levels since 2008, causing the Biden administration to propose forcing fuel vendors to maintain a minimum amount of fuel in their tanks in order to prevent severe shortages.

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As Fuel Costs Rise Heading into the Winter, Biden May Utilize Strategic Reserves

Pennsylvania Daily Star Staff
Jennifer Granholm

As the supply chain crisis continues to worsen, Americans can expect to pay higher energy costs in order to maintain heating in the coming winter, says Secretary of Energy Jennifer Granholm.

In an interview with CNN’s Dana Bash on Sunday, Granholm said “this is going to happen…it will be more expensive this year than last year.”

While Granholm claimed that “we are in a slightly beneficial position…relative to Europe,” she nonetheless admitted that the United States has “the same problem in fuels that the supply chains have, which is that the oil and gas companies are not flipping the switch as quickly as the demand requires.”

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