The heating bills in the United States are set to increase significantly this winter. According to this release from the Energy Information Administration (EIA) the heating bills can increase 50% if the winter is 10% colder than average and 22% if the winter in 10% warmer than average.

The same report analyzes the price increases by type of fuel and shows that propane will be up by 54%, heating oil by 41%, natural gas by 30% and electricity 6%.

Some degree of civil unrest is expected as a consequence of this expected expense increases. This, in addition to the scarcities (and price increases) caused by the supply chain disruptions are making for potentially difficult next few months.

This post is intended to only raise awareness. In order to make actual financial decisions please contact your financial advisor and/or tax advisor prior to making the decision.