Petroleum Expert: Prices to heat a home could double or triple this winter

Posted on October 25, 2022
Start saving now – prices could skyrocket this winter. (Photo courtesy: WJBC/File)

By Blake Haas

BLOOMINGTON – Prices to heat a home in Central Illinois could sometimes double or even triple.

“It’s going to be an extremely expensive winter to heat your home, whether it’s natural gas, propane, or heating oil. We have seen the prices of all three of those really skyrocket because of Russia’s invasion,” GasBuddy’s Patrick DeHaan told WJBC. “So natural gas, you can expect your home heating bill to be maybe two to three times what it normally is. Propane and heating oil may be beyond that.

And all of this again, because of curtailment of energy flowing out of Russia due to their war.”

According to DeHaan, Russia is one of the most significant oil and natural gas producers.

“Now that they’ve basically cut off the flow of natural gas to Europe, Europe is knocking on the door of natural gas producers in the U.S. and basically offering a higher price, and that is siphoning some of the natural gas here in the U.S. over to Europe, and that in turn is driving up our natural gas prices.

Another problem – refinery fires are hurting the supply chain of diesel.

Blake Haas can be reached at [email protected].

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