Mild temperatures and low fuel costs means savings for families this winter

Heating costs should be lower this winter than in recent years, the Energy Information Administration has predicted. In what will be welcome news for families already struggling to cut their monthly expenditures, the agency said costs are expected to drop by between $20 to $280 per household due to lower fuel costs and forecasts of milder temperatures. Those who use natural gas to heat their homes will see the most savings — roughly $105 when compared with last year — while homes heated with fuel oil or electricity are expected to save between $20 and $60. Natural gas prices have been declining recently because the recession has caused a drop in demand.