Due to rising energy prices, Americans will pay more to heat their homes this winter than they did last year, according to the US Energy Information Administration's (EIA) winter prediction released on Wednesday.

Energy prices have grown dramatically throughout the world, producing power shortages in major economies such as China and India. Even while the costs of fuels ranging from natural gas to heating oil and propane have risen significantly and will impact family budgets as the weather turns colder, the United States is yet to witness the same effect.

The EIA stated that "The main reason wholesale prices of natural gas, crude oil, and petroleum products have risen is that fuel demand has increased from recent lows faster than supply, in part, because of economic recovery after the first year of the COVID-19 pandemic."

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According to the US Department of Energy's statistics arm, over half of all U.S. houses rely on natural gas for heat, and the average cost for those homes is anticipated to climb by 30% from the previous year.

Last winter, the average cost of heating a home using natural gas was $572 per household, much less than the cost of other main sources of heat.

Households who rely on propane or heating oil will suffer the most severe price hikes, according to the EIA, because wholesale price changes flow down to consumers considerably more quickly.
According to the EIA, these prices are anticipated to climb by 54 percent and 43 percent, respectively, over last winter.