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The EIA also says that U.S. households that primarily use for space heating will spend an average of $931 on heating this winter (October-March), which is $206, or 28%, more than last year. Natural gas is the primary heating fuel for 47% of U.S. homes, according to the U.S. Census Bureau’s 2021 American Community Survey.
Higher retail natural gas prices are the main driver for the expected increase in natural gas heating expenditures this winter. On average, retail natural gas prices in the United States are expected to rise from $13.02 per thousand cubic feet (Mcf) last winter to $15.95/Mcf this winter, a 22% increase. We expect the largest increase on a percentage basis in retail natural gas prices to occur in the Midwest, where prices rise to $13.80/Mcf, a 27% increase compared with last winter.