Where will heating oil, natural gas prices go?
Heating costs this winter figure to be cheaper for much of the country than they were a year ago, thanks to a glut of natural gas and fuel oil and a recession that’s pushing down demand. Does this mean you should lock in a rate now – or wait for prices to keep dropping? Here are some questions and answers about heating costs for this winter. Q. Where are prices compared with a year ago? Natural gas prices are down about 80 percent and heating oil prices are half what they were a year ago, both on the New York Mercantile Exchange. Q. So exactly how much will I save? There are plenty of factors that go into figuring how much it will cost to heat your home this winter. The actual cost of natural gas and heating oil typically make up about two-thirds to three-quarters of the total bill. Consumption, of course, also is driven by how cold it gets this winter, how big your house is and how comfy you want the place to be when grandma comes for Christmas. As far as gas prices go, how much you w
