Heating costs on the rise as households struggle with rising price of utilities

If you live in a colder climate, get ready for a spike in heating costs this winter. A report from the National Energy Assistance Directors Association suggests prices will rise by nearly 9% on average in the U.S. this year, citing the Iran war as one of the main culprits. Households in the Northeast and Alaska are set to experience the highest prices, where costs could go up by as much as 70%, topping $3,000 for the season. The average household will spend $1,030 heating their homes this winter, a price tag increase that is 2.5 times higher than the rate of inflation.