You may not get the best deal at the store this holiday season, but you should get a great deal on your heating bill, as prices are expected to drop, according to the Energy Information Administration.
While heating prices spiked last year, the EIA is projecting prices to drop 20% this winter, thanks to a large supply of natural gas, expected mild winter temperatures, and several other factors.
Despite the projected drops across the board, a recent MoneyGeek report that analyzes the EIA’s data determined what states will pay the most this winter season.
With several states still expected to pay more than $100 a month to keep their homes warm, Illinois is expected to pay the most, with monthly natural gas bills projected to be $133 on average.
Even though it’s predicted to be the priciest in the country, this year’s average is still less than last year’s $168.
Following Illinois on the list is Oklahoma at $128, $22 cheaper than last year; Alaska at $120, which is $50 cheaper; Massachusetts at $116, a drop of $24; and Connecticut at $113, which is $24 less than 2022.
MoneyGeek found that natural gas customers on the West Coast are the luckiest this year, with several states, minus California, seeing their projected bills dropping $30 to $50 a month.
The remaining states with projected bills above $100 a month include Colorado, Ohio, Michigan, New York, Wyoming, Pennsylvania, and Utah.
States with the lowest monthly heating bills are, as expected, already warm. Hawaii, Arizona, and Florida make up the states projected to spend the least on heat this winter.