Trump’s War In Iran Could Spark a Home Heating Crisis

As winter approaches, the ongoing conflict will lead to higher energy prices across the board, but especially for households using heating oil.

As winter arrives and the weather begins to cool, Americans across the country will be contending with increased heating costs, compounding the economic burdens of persistent inflation and stubbornly high grocery prices. The cost of heating oil in particular is expected to rise sharply, as gas prices overall remain elevated due to the ongoing war with Iran.

A new report by the National Energy Assistance Directors Association found that heating costs will jump by 8.7 percent this winter as compared to last year—more than double the rate of inflation—with American households expected to spend an average of $1,030. Prices will increase for all fuel types, but the spike will be especially dramatic for heating oil users: The NEADA analysis projects that heating oil costs will rise by 31.3 percent this winter.

Although NEADA predicts in its report that heating oil users will spend an average of $2,297 this winter, the number might actually end up being higher. Since the report was written last week, Iran-backed Houthi rebels have captured two islands in the Red Sea, leading to a spike in global oil prices—which in turn affects the cost of heating oil thousands of miles away.

“For average families, you don’t know what the cost of gasoline is going to be next week. If you use heating oil, you don’t know what the cost of heating oil is going to be,” said Mark Wolfe, the executive director of NEADA. “If you’re just a typical family, you know, a working-class family, this is now adding considerable uncertainty to........

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