Cooling temps, Iran war push heating oil costs higher as local families brace for winter

CINCINNATI (WKRC) — As temperatures start to cool, families are already worrying about how they will pay to heat their homes, especially as home heating prices rise for those who rely on oil.

For many households, a single tank fill-up is expected to strain budgets this season, with the war in Iran continuing to put pressure on families as fall arrives and temperatures drop.

Kimberly Walls, who lives with her family of seven, including five children, said the cost of heating oil is becoming too much.

“It’s, it’s hard. I think it takes like almost about $1200 to fill my tank, but I only have a small tank, so I have to fill it twice a year,” Walls said.

Walls said she has had to seek help to cover basic costs.

“I have to reach out for help because I, I mean, I’m a school bus driver, so I don’t really have the funds to be able to afford to live and be able to like pay all the extras,” Walls said. “It’s basically a pick and choose of what you pay during that month. Like credit card payments or like paying the electric bill that month, or do I pay for heating oil?”

Experts say prices could climb even more. David Brasington, a professor of economics at UC, said families should prepare for a significant increase.

“About a 30% jump over normal rates,” Brasington said.

When the U.S. Energy Information Administration releases its data for the upcoming season, prices could rise above $7 a gallon nationally, translating to about a $400 increase compared to last year. Before the war began in late February, a gallon hovered around $4.

Brasington said the end result will be families making tough choices.

As temperatures start to cool, families are already worrying about how they will pay to heat their homes, especially as home heating prices rise for those who rely on oil. For many households, a single tank fill-up is expected to strain budgets this season, with the war in Iran continuing to put pressure on families as fall arrives and temperatures drop. (Provided)

“Instead of putting up the heat higher, you wear sweaters instead. Bundle up, and keep the house temperatures kind of low. Any other things that people can do to cut back,” Brasington said.

For some families, high prices have already pushed them to abandon oil heating systems and look for other ways to heat their homes.

“It’s just cheaper in the long run because it’s cheaper to buy a $70 heater than it is to pay $1,000 to fill the drum,” Walls said.

With winter on the horizon, paying for those increases is expected to be on the minds of many.

For those who may need help paying for heat this upcoming winter—no matter how they heat their homes—energy assistance programs are available throughout Ohio, Kentucky, and Indiana, and some applications are already open.