As home-heating fuel prices continue to surge, your bills this winter may prove to pack a bit more of a wallop than the last few years. Consumers of natural gas, oil and propane are all facing the crunch of far more expensive fuel this season.
“Consumers got used to very low prices last year, because with the pandemic everything was shut down,” said Mark Wolfe, executive director of the National Energy Assistance Directors Association. “Now, everything’s coming back online, industry is returning, and natural gas is being used again in very large quantities. And that’s pushing up the price.”
As demand for natural gas has increased due to economies recovering from the pandemic, there’s less gas on the market. The wholesale price in the U.S. has reached its highest mark in seven years. In the U.S., winter heating bills could be steep. According to the NEADA, natural gas bills could be as much as 30% more, with the average cost to heat a home rising to $750, from $572 over the same months last winter.
Oil prices, too, have surged, to nearly $75 in the U.S. Like natural gas, a key reason is that producers saw a sharp decline in drilling during the pandemic. The cost to warm homes with heating oil or propane could surge 40%, according to NEADA. All are expected to rise as the winter progresses, as well.
All of this could cause hardships for customers who were already struggling. The need for assistance throughout the winter will likely grow for low- to moderate-income families—and that’s where the beauty of budget plans comes into play.
Midway Gas in Southwest Virginia offers payment flexibility! This winter looks like an ideal season to take full advantage of our Budget Plan. How does it work? Instead of paying higher bills right around the holidays, your propane costs are spread out into even, level monthly payments. If you sign up, there’ll be no budget-busting surprises under the tree this year. Our plan allows you to arrange your winter spending accordingly. If you like easy and dread hefty bills, our Budget Plan is the one for you.
For more information about our Budget Plan and how to enroll, contact Midway Gas today!