Nor are natural gas prices, which have gained 73 percent this year.
Some are already coming due to low natural gas prices.
Medical care and natural gas prices also contributed to the rise, he said.
They have pushed up natural gas prices by 50 percent in some areas and created a drag on economic growth.
The company has pointed to the possibility of lower natural gas prices.
Last year, heating oil and natural gas prices increased by about a third over the winter.
He said that domestic natural gas prices had also declined.
Fuel oil and natural gas prices are also expected to rise.
The company is also waiting for a turnaround in natural gas prices.
Many states set rates based in part on estimates of future oil and natural gas prices.