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Low Gas Prices Haven't Shrunk Heating Bills
1/5/2009
The cost of heating homes is up this winter, and many Americans are wondering why they aren’t feeling the decline in energy prices.
"Because gasoline [prices] has gotten so low, everyone's expecting their home heating bill to be low as well," says Mark Wolfe, executive director of the National Energy Assistance Directors' Association, a nonprofit that represents state fuel assistance programs. "It's not going to be as low as people expect."
That’s because both oil and gas prices were at record highs during the summer when utilities and dealers stock up. They continue to pass along those costs to their customers.
Customers will get the benefit of this year’s low prices next winter, experts say.
Source: The Wall Street Journal, Ben Casselman (01/03/2009)
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