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Winter for too many americans. the cost of heating oil at an average of $5.70 a gallon last month. that's up 70% from the same time last year. the northeast is so short on oil supplies, fuel oil, that it is being rationed. fox business correspondent is live in new jersey. >> families will be paying a lot more to heat their home this winter. you look at home heating oil as an example. if a family bought their year's worth of oil today they pay $2 thousand more than they would have last year. this is a discount home heating oil company and their prices you can see how much they've gone up in the...

Stay warm, up 27 and 28%. two factors are driving the spike, the global market affected by russia's war in ukraine and opec's plan to slash production of crude oil. the supply of heating oil in new england is about a third of where it typically is. still experts say that is not cause for concern. >> supply is tight. that is undeniable. we have enough fuel to supply people's needs at this time. >> reporter: right now, the cost for a gallon of heating oil is about $5.70 per gallon. that's up more than $2 from last year with eight states paying even more. >> there are people who are going to have...

>> reporter: across the board, energy costs are expected to be higher than last year. the federal government expects the biggest jumps for customers who use heating oil or natural gas to stay warm, up 27% and 28%. two factors are driving the spike. the global market affected by russia's war in ukraine and opec's plan to slash production of crude oil. the supply of heating oil in new england is also about a third of where it typically is. >> we are operating right now at unacceptably low inventory levels. >> reporter: this is important, experts say that it is not cause for concern. >> supply is...

Difficult for buyers. >> we do not see prices decreasing much. if they do, interest rates are rising. the cost of money is going up. that means you will pay as much or nearly as much as you were, even if those prices go down. >> reporter: car, home and student loans are all higher. interest rates on a 30 year fixed mortgage have jumped from 2.93 to 5.70% in the last year. >> this is how it looks. >> he wishes his interest would have been lower, but says that was his need and want that motivated his new car purchase. a lot of people are turning to electric vehicles. prices for those are higher....

Is up 35 bucks a week. >> can you believe? >> reporter: commuting to her housekeeping job at a las vegas hotel. >> i don't know when it's going to stop. >> reporter: surging gas prices and inflation are eating up more of her salary. >> i need to cut so many expenses. it was my birthday, and i couldn't buy a purse. i mean, there are so many things. and it affects me emotionally, of course. >> reporter: at close to $5.70 a gallon, nevadans face the second steepest gas price in the country, well behind california. but when you factor in average salary, data show drivers here have to work longer t...