Short Term Energy Outlook

The Energy Information Administration has released its Short Term Energy Outlook for October.

The biggest news is the increase in winter heating bills. The EIA, assuming a normal winter, predicts that the typical household will see an increase of about $350 for natural gas, $378 for heating oil, $325 for propane, and $38 for heating with electricity.

As far as gasoline the EIA is predicting that the average price in 2005 is to be $2.35/gallon and $2.45/gallon in 2006. The reason for this are tight international supplies and loss of significant domestic production due to the hurricanes.

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Steve Verdon
About Steve Verdon
Steve has a B.A. in Economics from the University of California, Los Angeles and attended graduate school at The George Washington University, leaving school shortly before staring work on his dissertation when his first child was born. He works in the energy industry and prior to that worked at the Bureau of Labor Statistics in the Division of Price Index and Number Research. He joined the staff at OTB in November 2004.