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Home Heating Oil Bills Could Hit $3,000

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Aug 4, 2008 11:51 am US/Eastern

Home Heating Oil Bills Could Hit $3,000

BOSTON (WBZ) ― A new report says it could cost Massachusetts residents who heat their homes with oil or natural gas nearly $1 billion more this winter compared to last winter.

The report by the Donahue Institute at the University of Massachusetts says home heating costs will continue to rise next year and the average household oil bill could top $3,000.

About 1 million households in the state heat with oil.

Robin Sherman, lead author of the report, told the Boston Globe the cost of heating a home depends on the constantly changing price of oil and the severity of the winter.

Joseph Kennedy II, chairman of Citizens Energy Corporation, told the paper the situation "devastating."

(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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