If you use heating oil, the Energy Information Administration estimates a cost of about $2,100 dollars from November through March.
That’s 21% more than last winter.
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Homes that rely on electric heat could also spend more, but not as much. The EIA estimates a nearly $1,200 bill, which is about 4% more than last year.
"Relatively high natural gas inventories entering the winter season provide a cushion for heating demand, while households that rely on heating oil face higher prices because distillate markets remain tight," EIA Administrator Tristan Abbey said.
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This comes as it was reported last month that El Niño could shape your winter weather budget.
According to the National Oceanic and Atmospheric Administration outlook, December through February favors warmer-than-average temperatures across the northern U.S. There is also expected to be wetter-than-average conditions across the southern U.S. from California to Florida and along the Eastern Seaboard.
To cut costs, experts recommend lowering your thermostat a few degrees, sealing drafts around doors and windows, and checking whether your state offers help with utility bills.
