El Paso Standard

As colder weather quickly approaches, the price of heating homes in the U.S. is soaring, putting pressure on homeowners' finances. 

According to the World Economic Forum, home heating prices, along with the cost of everything else in the U.S., are rising causing many people to choose between paying home heating costs or going without heat. The U.S. Energy Information Administration reports that with winter weather expected to be colder than usual this year and high energy costs, many Americans will have to pay more for heating this winter.

"Winter weather is quickly approaching. This year, thanks to Bidenflation, bracing the cold will bring on a slew of expenses," Rep. Tony Gonzales wrote in a Dec. 16 Twitter post. "House Republicans have a plan to make America energy independent and reduce the burden on American families."

CNN reports that, according to the National Energy Assistance Directors Association, home heating prices are currently up 18% in the United States on top of last year’s 17% rise. Households that heat with gas could see a 28% increase in prices and households that heat with oil could have a 27% increase compared with last year's heating prices.

According to CNN, the Biden administration has announced that $4.5 billion in federal assistance will be provided this winter to assist families with paying their heating bills. Congress will allocate money for LIHEAP, also called the Low-Income Home Energy Assistance Program.