$100-a-barrel oil prices are hitting Americans at the gas pump — in the form of $4 gasoline — and experts warn the pain could extend to home heating bills this winter.
The National Energy Assistance Directors Association says that for the 2026-2027 winter:
- Natural gas prices will be 6% higher than last year
- Electric heat will cost 9% more
- Heating oil is 43% higher than one year ago, matching the rise in diesel prices due to the Iran war's impact
Overall, it expect bills to be 8.7 percent higher.
Tom Kloza of Gulf Oil said homeowners who heat with oil will see the largest bills they have ever received when they fill their tanks this fall.
"800 gallons at $6 and change, you are talking about a $5,000 bill to keep warm this winter," Kloza said.
WATCH: Experts show how to lower your heating bills this winter
One option is to fill the oil tank only halfway right now, in hopes that heating oil prices drop by January — though that approach carries risk.
What homeowners can do to keep bills down
There are also steps homeowners can take to reduce their bills regardless of how they heat their homes.
Nick Glace of Arlinghaus Heating and Air said the first step is simple: change your filter, typically every three months, for $20 or less.
He said an annual tune-up — usually $75 to $100 — is also essential.
"We're gonna check gas flow, and make sure we have good heat going into the heat exchanger," Glace said.
Properly sealing doors and windows to keep cold air out can also help cut costs.
Glace also recommends investing in a programmable or smart thermostat for less than $100. "You don't want it to run all the time when you are not there," Glace said.
"When you are asleep and you are at work, why keep the house heated at that same level," he said.
So take some simple steps like insulating, getting a furnace tuneup, and turning the heat down at night, and that way you don't waste your money.
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