Americans are in store for an expensive winter when it comes to paying their heating and electric bills.
Those forecasts follow a year of already elevated costs for homeowners, and are likely hit low- and middle-income consumers the hardest, Mark Wolfe, executive director of the National Energy Assistance Directors Association, told CBS News. Rising energy costs are linked to, which has disrupted natural gas flows to Europe, and a hotter-than-normal summer in the U.S. that caused electric companies to draw down their supplies of natural gas, Wolfe noted.
"There is a lot of pain. This is the second year of high home heating prices," he said."Across the board, low- and middle-income families are suffering."Even though the price of oil has dropped since hovering in the triple digits in June, the commodity remains more expensive than it was a year ago.
The hottest inflation in 40 years has been remained stubbornly high, despite the Federal Reserve's efforts to put the brakes on demand by raising interest rates.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Firefighter hospitalized, 17 cats die in blaze at Palms strip mallA strip mall fire in Palms left a firefighter hospitalized and 17 cats dead, the L.A. Fire Department said.
Read more »
EMAWOnline - RAPID RECAP: K-State upset 17-10 by Tulane
Read more »
No. 24 Texas A&M beats No. 13 Miami 17-9Texas A&M bounced back from its Week 2 defeat to Appalachian State with a 17-9 win over No. 13 Miami on Saturday night.
Read more »