Mild temperatures reduced U.S. household heating fuel consumption last winter

We estimate that U.S. households consumed less heating oil this winter heating season because of warmer-than-expected temperatures than we estimated at the beginning of the winter heating season. Combined with stable heating oil prices, our current estimate of average household heating costs for this winter is lower compared with our forecast in the Winter Fuels Outlook (WFO), a supplement to the October 2022 Short-Term Energy Outlook (STEO). Since October, our estimates of heating oil consumption fell by 9% and prices by 2%.