New Yorkers could see bigger heating bills

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ALBANY, N.Y. (NEWS10) — New Yorkers may be paying significantly more money to stay warm this winter compared to last winter. Prices for heating oil, kerosene, and propane were up between 20% to 36% over last year’s prices as of September 20, according to the New York State Energy Research and Development Authority (NYSERDA).

The current average price of heating oil statewide is $3 per gallon. The price also fluctuates by region in the state, with prices being higher towards New York City and Long Island. Residents see lower prices in Central and Western New York.

The table below shows the price difference from 2020 to 2021 and the percentage of increase.

2020 priceCurrent priceDifference (%)
Propane$2.46$322%
Kerosene$2.89$3.6426%
Heating oil$2.36$3.0035.6%
Source: NYSERDA

In the Capital Region, prices for these fuels are below the current state average. This is on-trend with prices in 2020. Check out the difference in current prices and 2020 prices statewide compared with local figures:

2020 price Statewide2020 price in Capital RegionCurrent price StatewideCurrent price in Capital Region
Propane$2.46$2.31$3$2.87
Kerosene$2.89$2.72$3.64$3.49
Heating oil$2.36$2.16$3.20$2.95
Source: NYSERDA

Last winter, prices peaked in mid-March, according to NYSERDA data. However, the average price was lower than the current prices.

Because the price of heating is driven by demand, if it’s a particularly cold winter, the price of staying warm could be driven up further during the upcoming winter. Recent hurricanes in the south could also have an effect on pricing.

NEWS10 reached out to NYSERDA for comment on the cost to heat homes this winter but did not get a reply. Forbes did have some insight on the issue.

“Driven higher by unexpectedly high demand and catastrophic hurricanes halting production, oil prices rose for a fifth-straight day on Monday, hitting their highest levels in three years as analysts point out cold winter weather and a busy pandemic travel season should only boost prices further,” Forbes said.

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