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Winter Fuels Outlook

November 18, 2009
By: Sara Schafer, Farm Journal Media Business and Crops Editor
 
 

Linda H. Smith, Top Producer Executive Editor

You should pay less for heating this year, reports the Energy Information Administration (EIA). The lower 48 states are forecast to be 1% warmer this winter (October–March) than last winter and 1% milder than the 1971–2000 average, with greater regional differences (Midwest, 4% warmer; West, 4% colder).

Savings vary by type of fuel as well:

Natural gas: 12% lower price

Heating oil: 2% lower price

Propane: 14% lower price

Electricity: 2% lower price

 

EIA expects West Texas crude oil to average about $70 this winter and to increase to $75/barrel by December 2010, as U.S. and world economic conditions improve. After averaging about $3.85/Mcf in 2009, EIA projects Henry Hub natural gas to average $5.02 in 2010. For EIA's full forecast, visit: http://www.eia.doe.gov/emeu/steo/pub/contents.html.

 

 
You can e-mail Linda Smith at lsmith@farmjournal.com.

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RELATED TOPICS: News, MoneyWise

 
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