Joint Economic Committee says Northeast heating oil costs rise 39% this winter
Households in the U.S. Northeast are facing record home heating oil costs this winter as colder weather approaches and energy price pressures build. The increase affects a fuel widely used across states including Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.
Highlights
- Joint Economic Committee reports Northeast families will pay 39% more for home heating oil this winter due to the Iran conflict.
- Senator Maggie Hassan attributes increased heating costs to President Trump’s war with Iran, tariffs, and related policies affecting all 50 states.
- President Trump's proposal to eliminate the Low-Income Home Energy Assistance Program raises concerns about low-income families' ability to afford rising winter heating expenses.
Committee analysis links winter costs to Iran conflict
As reported by Joint Economic Committee Democrats, data released today says families will be forced to spend record amounts on home heating oil this winter amid President Trump’s war with Iran. Senator Maggie Hassan, the committee’s ranking member, says the conflict has pushed heating costs higher for households across the Northeast.Hassan says families are already under strain from higher prices for everyday necessities and now face more expensive heating bills as cold weather nears. She characterizes the administration’s war, tariffs and other policies as adding to affordability pressures rather than providing relief.
Broader pressure on household energy support
Earlier this year, President Trump also proposed eliminating the Low-Income Home Energy Assistance Program, or LIHEAP, which helps families pay to heat their homes. The proposal adds to concern about how lower-income households would manage rising winter energy expenses.The committee says the heating oil analysis is part of Hassan’s broader effort to measure the economic impact of Trump administration actions on American families. She says she will continue pressing the administration to reverse its tariffs, the war with Iran and other actions that she argues are driving up costs across all 50 states.
Our earlier report on the conflict-driven surge in oil shipping costs detailed how security risks tied to the U.S.-Iran war have sent tanker and insurance rates sharply higher on key routes such as the Strait of Hormuz and the Red Sea. We noted that these elevated transport costs can filter through from crude prices into gasoline and other everyday consumer expenses as supply chains reroute and price in added risk.
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