The U.S. Energy Information Administration on Wednesday forecast that consumers will see a 12% increase in their natural-gas heating bills this winter, compared to last winter. Residential prices for natural gas are expected to average $10.36 per thousand cubic feet, which would be 2% higher than last winter, the EIA said in its Winter Fuels Outlook report. Consumption of the fuel will likely be 9% higher than last winter. Households using heating oil, meanwhile, will likely spend 17% more on their heating bills than last winter. On the New York Mercantile Exchange, November natural gas traded at $2.935 per million British thermal units, up 1.5%, while November heating oil fell 0.1% to $1.763 a gallon.
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