Winter heating bills set to jump as inflation hits home

NEW YORK (AP) — With prices surging worldwide for heating oil, natural gas, and other fuels, the U.S. government said Wednesday it expects households to see their heating bills jump as much as 54% compared to last winter.

Nearly half the homes in the U.S. use natural gas for heat, and they could pay an average of $746 this winter, 30% more than a year ago.

This could be the most expensive winter for natural-gas-heated homes since 2008-2009.

According to the Associated Press, about 41% of homes in the country use electricity, which will see about a 6% increase to $1,268.

Those who use heating oil will see a 43% increase, the AP reported, to $1,734.

A forecast for a colder winter means people will likely be burning more fuel to keep warm, on top of paying more for each bit of it.