New Englanders Will Pay 65 Percent More to Heat Their Homes This Winter

The price of heating oil, a fuel most commonly used in New England to heat homes, has gone up by 65% since October 2021, according to the Energy Information Administration.

The average price for the oil was $5.46 per gallon in October 2022 compared to $3.30 in October 2021, due to refining constraints and low stockpiles of the fuel, according to a Nov. 17 notice posted by the EIA. Inventories of distillate fuel oil, which is refined to produce diesel and heating oil, are at their lowest levels since 2008, causing the Biden administration to propose forcing fuel vendors to maintain a minimum amount of fuel in their tanks in order to prevent severe shortages.

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New England Governors Push for Home Heating Assistance

New England governors are pressing the federal government for a supplement aid package supporting home heating assistance to residents this winter.

Led by Connecticut Gov. Ned Lamont, the governors penned a letter to congressional leaders expressing their desire to see approval of President Joe Biden’s request for the emergency supplemental funding package that would assist residents with home heating assistance.

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As Fuel Costs Rise Heading into the Winter, Biden May Utilize Strategic Reserves

Jennifer Granholm

As the supply chain crisis continues to worsen, Americans can expect to pay higher energy costs in order to maintain heating in the coming winter, says Secretary of Energy Jennifer Granholm.

In an interview with CNN’s Dana Bash on Sunday, Granholm said “this is going to happen…it will be more expensive this year than last year.”

While Granholm claimed that “we are in a slightly beneficial position…relative to Europe,” she nonetheless admitted that the United States has “the same problem in fuels that the supply chains have, which is that the oil and gas companies are not flipping the switch as quickly as the demand requires.”

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