Winter heating costs likely to be higher this winter than last

FRANKFORT, KY. (Oct. 13, 2017) –Kentucky households can expect higher home heating expenditures this winter (October through March) than the last two winters, according to the U.S. Energy Information Administration’s (EIA) recently released, Winter Fuels Outlook. Winter gas price graphicThe expected increase in heating costs is a result of more heating demand because of colder weather, and to a lesser extent, higher energy costs. Winter temperatures are predicted to be 13 percent colder in Kentucky, comparable to a 10-year average.

According to the EIA report, average increases vary by fuel, with natural gas expenditures forecast to rise by 12%, home heating oil by 17%, electricity by 8%, and propane by 18%. Most of the increase reflects expected colder weather rather than higher energy costs. However, a warmer-than-forecast winter would see lower increases in expenditures, and a colder-than-forecast winter would see higher increases in expenditures.

Currently, the average price for residential propane in Kentucky is $1.96 per gallon and $2.20 per gallon for residential heating oil.

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