Cost of US home heating to rise
http://news.bbc.co.uk/go/rss/-/1/hi/business/7036731.stm Version 0 of 1. US consumers will pay on average 10% more to warm their homes this winter than they did last year, according to a government forecast. Heating oil will be the dearest fuel, with higher crude oil prices raising average costs to $2.88 (£1.41) a gallon from $2.48 (£1.22) last winter. Households using natural gas will also see a rise of almost 10% in spending. Higher costs will also come from the predictions that this winter will be colder than last year. Electricity-users will be least-hit this winter, with their heating bills only expected to rise by an average of 4% for the season, the Energy Information Administration report says. Predictions of increased demand raised oil prices, with London Brent crude for November delivery settling up $0.91 at $77.46 dollars a barrel. Traders' attention will now turn to Wednesday's weekly US crude inventories report from the Department of Energy. |