BRONXVILLE, N.Y. – Even though oil prices are down from last year, Bronxville residents may see higher heating bills thanks to a colder winter forecast.
For those using home heating oil, AAA spokesperson Robert Sinclair said, the monthly bill would be as cheap as last year if not for the colder winter Bronxville is expected to get.
Crude oil, which makes up 60 to 70 percent of a gallon of heating oil, is about $93 per barrel. That's "cheaper than it's been" compared to when it reached its peak of $110 per barrel this year, Sinclair said.
"If things remain as they are right now — demand down, mild weather, inventory up and crude oil prices down — it will bode well for home heating bills this year," he said.
But colder weather could create a competition for crude oil between heating oil and gasoline, resulting in a higher demand and higher prices, Sinclair added.
The National Oceanic and Atmospheric Administration’s National Climatic Data Center is predicting a colder winter than last year and, consequently, more heating usage.
In December, New York residents almost doubled their heating usage compared to the previous year, data from the NOAA show.
In Bronxville, the average house will use around 1,000 gallons of heating oil per year, with more than half of it between December and March, Robison Oil co-President Daniel Singer said. While the average price fluctuates, it has hovered around $4 per gallon, he added.
Those who use natural gas to heat their homes will also see a slight increase in their bills.
Thanks to the natural gas boom across the nation, prices are the lowest they've been in a decade. Delivery costs for Consolidated Edison have increased by 3.4 percent from last year, bringing the average gas heating residential bill to about $348 per month, Con Edison spokesperson Allan Drury said.
That's $11 higher than last year for the months of November through March.