PENNSYLVANIA, USA — The cost to fuel homes this winter is expected to rise.
This comes after analysts warn about heating oil stocks being dangerously low. In a recent survey by the Energy Information Administration, diesel and heating oil supplies are dangerously low in the Northeast.
According to the data, supplies in the region are 50% below the recent average.
In Pennsylvania, the number of barrels in stock is at 12.9 million a week as of Aug. 26, that's down from 39 million barrels in July of 2020.
The decrease in supply is forcing local suppliers to increase their home heating prices, that includes home heating oil and natural gas.
"We understand the impact that these kinds of price increases have on households," said UGI spokesperson Joe Swope.
Swope says the company is increasing its cost of natural gas by 7.6% starting Thursday. He added that the cost of natural gas has been driven up by multiple factors.
"One is increased demand domestically, as the economy continues to remain strong. Second is the increased global demand, especially with the political instability in Europe," Swope said.
UGI's decision to increase heating prices wasn't easy, according to Swope. He says that the company understands the burden that's being passed on to customers ahead of fall and winter.
"We recognize that it creates additional burdens for our customers in terms of their ability to pay," he said.
There are numerous programs available to help residents struggling to pay for home heating. Pennsylvania's Department of Human Services announced supplemental payments to households in the Low-Income Home Energy Assistance Program to cover existing utility and fuel bills.
Swope said that UGI and other local providers are willing to help customers in need.
"No one wants anyone to go without heat this winter," he said. "We will do everything in our power to work with customers to make their bills manageable and find if they're eligible for any assistance."
