Americans should expect to pay higher costs to heat their homes this winter, Energy Secretary Jennifer Granholm said Sunday, a result of high gas prices caused by the coronavirus pandemic. "We are in a slightly beneficial position, well certainly relative to Europe, because their choke hold of natural gas is very significant. A release from the SPR, which is designed to protect the nation against a major disruption in oil supplies, may only provide modest, temporary relief from higher prices at the pump. US households that rely on natural gas for heating could spend an average of $746 to heat their homes this winter, up 30% from last winter, according to the Energy Information Administration. Retail natural gas prices are expected to hit the highest levels since the winter of 2005-2006.

Source: CNN November 07, 2021 23:27 UTC