Americans brace for brutal winter amid surging cost of heating oil
Amid surging inflation and a rise in fuel prices, Americans who rely on heating oil to warm up their homes this winter are bracing for increased financial strains.
Americans who use heating oil to warm their homes are bracing for higher costs this fall and winter, amid a surge in heating oil prices. Brittney Worden, a mother from Maine, fears that freezing temperatures could lead to burst water pipes if homes do not have adequate heat. She predicts that she may have to pay close to $5,000 to heat her home this winter, a significant increase from last year's price of $4 per gallon.
The rise in heating oil prices is linked to the increased cost of diesel fuel, which is primarily the same product and is produced through the same oil refining process. The price of diesel has nearly doubled due to the conflict between Russia and Ukraine, as Russia has banned diesel exports since July, and global diesel prices have been impacted by the war in Iran.
President Donald Trump recently announced a deal to import 300,000 tons of Russian diesel fuel, but this plan has faced criticism from some bipartisan senators who oppose lifting Russian oil sanctions. Heating oil is a primary source of energy for space heating in many households, and households that use it are expected to spend more on heating this winter compared to last year.
Propane and natural gas prices have been comparatively more stable, providing some relief for those who primarily rely on these energy sources for heating.
Written by urgent.news from ABC News (US)'s reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
