Here's how much Massachusetts heating bills will increase this winter
Colder weather is finally setting in in New England prompting some to turn on the heat. And the one thing we'll all be cranking up this winter is the bill, no matter how you heat your home.
Experts say heating fuel prices have skyrocketed from a year ago, which will cost the average homeowner hundreds of dollars more.
The state says propane is up 27 percent and Eversource says natural gas is up 20 percent, meaning their typical gas bill will rise $30 to $40 per month.
But the biggest jump is in heating oil.
Scott MacFarlane says oil from his company — MacFarlane Energy in Dedham — was $2.49 per gallon last October. This month, it's $3.59. That's a 44 percent increase, which Scott says means a substantial hike for the average homeowner over the course of the season.
"It's going to be up there probably at least $500 more this year," Scott said.
But there are ways to avoid being left out in the cold. Most heating companies offer monthly budget plans to spread out the cost. At MacFarlane, there are two options. The first, a fixed price, lets customers lock in their fuel price now. If it goes up, they won't pay more, but if it goes down, they won't pay less.
MacFarlane Energy also offers a second plan called a cap program. That caps the maximum cost you pay and you get to pay less if the price goes down.
But that insurance comes with a fee. Scott says it's usually around $125 per home.
Right now Scott says he's reluctant to buy more oil for customers at current prices because they might be near the peak, and he's hopeful prices will level off or drop by December.
"I don't think that prices are going to go up that much higher than they are right now, maybe another 10 or 20 cents," he said. "I'm hoping that it will [end up] somewhere in the $3.29 range. We'd love to see it at that range."