EIA forecasts that average U.S. household expenditures for most major home heating fuels will be higher this winter compared with last winter. Most of the increase reflects higher forecast energy prices. U.S. average heating degree days are expected to be 1% higher than last winter. However, realized expenditures are highly dependent on actual weather outcomes
Recently oil prices have risen steadily since the end of 2015. Multiple factors have caused this increase in the oil price, including the continued political turmoil in oil-exporter Venezuela, US sanctions on Iran and a simultaneous worldwide increase in demand. Plus the current crisis with U.S.-Saudi relations.
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