Iran War Fuel Price Spike to Hit American Heating Bills Hard This Winter

As winter approaches, American households are bracing for higher heating bills due to the ongoing Iran war. The conflict has driven up energy prices, and experts warn that this trend will continue throughout the winter season. The average price of a gallon of gasoline has increased by $1.26 over the past year, while diesel is up $2.74 a gallon.

Heating oil, used by 3% of US households mainly in the Northeast, has surged in price by about 60% since the war broke out in late February. The current average price per gallon in New York State is $6.14, compared to $3.70 one year ago.

Households that rely on heating oil will face significant increases this winter, according to Mark Wolfe, executive director of the National Energy Assistance Directors Association. 'It's going to be a much more expensive winter,' he said. 'Those numbers, if you're middle class, that's a significant hit to your budget.'

On the other hand, households using electricity or natural gas for heating will likely see smaller cost increases. Natural gas is abundant in the US, and its wholesale price was lower in September than it was a year earlier.