N.H. Residents Face Higher Heating Bills Due to Global Fuel Price Hikes
New Hampshire residents are bracing for higher heating bills this winter due to increased costs of various fuel sources. The state's reliance on foreign oil, particularly from Ukraine and the Middle East, is a major contributor to these price hikes.
According to the U.S. Energy Information Administration, the cost of heating oil in New Hampshire has spiked 49% since January, from $3.64 per gallon to around $5.41 by March 30. By mid-September, prices had reached or exceeded $6 per gallon in parts of the state.
Joseph Sculley, executive director of the Energy Marketers Association of New Hampshire, attributes these price increases to conflicts in Ukraine and the Middle East, forcing local fuel dealers to acquire fuel at higher prices and subsequently charge more to consumers. To mitigate these costs, residents can shop around or take advantage of payment options with their oil supplier.
For those using natural gas, rates have increased by 52% for Liberty Utilities customers, from $1.15 per therm in April to $1.75, adding over $64 to the average monthly bill during winter months. Unitil's request to adjust its rates by 14% is still under review.