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Forecasted Heating Oil Costs for this Winter Skyrocket
According to the U.S. Energy Information Administration’s latest Winter Fuels Outlook, the price Americans will pay to heat their homes this winter keeps rising.
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On average, the cost to heat your home this winter with heating oil will be 45% higher than last year. Residents in the Northeast, where heating oil is primarily used, are warning that dramatic cost increases will leave them choosing between food and heat.
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Amid rising energy costs, the White House announced last week that $4.5 billion in low-income energy assistance (LIHEAP) will be distributed this winter.
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As the Republican Policy Committee has noted previously, LIHEAP is largely ineffective and does not address the root cause of energy poverty - rising energy prices.
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In addition, the influx of LIHEAP funding in recent years has failed to assist more people with total households served by the program dropping every year since 2015.
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