For homeowners who depend on natural gas or heating oil to warm their homes during winter, a sharp increase in pricing compared to last year's bill is definitely coming. 

Heating oil prices futures are lingering around $3.28 plus the $1.00-or-so markup charge for retailers. This means that heating prices are almost double what they were two years ago. Natural gas prices aren't as high but they have also soared dramatically.

It seems as if all the buzz about price increases is attributed mostly to gas prices, but home heating, especially in the northern parts of the country, is a necessity, whereas driving can sometimes be classified as a luxury.  Lowering the thermostat helps to some extent but simply keeping the home livable will still be expensive. 

If your budget is tighter this year, make sure to have your furnace checked early. Homeowners with older furnaces or heating units should take the time to look for a more efficient replacement this year. When energy was cheap, inefficient units didn't cost too much, but with higher energy prices this winter, the effective cost of replacement now makes much more sense.

"The average heating oil bill in states like Massachusetts, Maine, and New Hampshire, in a region where eight million households use heating oil to fire their furnaces, is set to jump by as much as $1,500 this winter compared with last year, according to estimates derived from the government's latest forecasts for energy prices.  

Amid a slowing economy, high energy costs are weighing heavily on pocketbooks, and have become a major political issue. Airlines and automakers have posted billions of dollars in losses, consumers have cut some of their spending to compensate for costlier gasoline, and soaring energy prices have contributed to inflation across the economy."  via the NYtimes.com.