LIPA held its public Board of Trustees meeting amid rising fuel costs on Wednesday.

LIPA's senior vice president of power supply says the harsh winter on Long Island and the conflict in Iran are driving up fuel costs.

The utility says it tries to lock in prices ahead of time to reduce impacts on customers, but the global events and weather are still driving up gas and oil costs, and Long Island relies on natural gas to generate electricity.

“It’s possible customers could see slightly increased prices here over the next few weeks and months as that conflict resolves. But we’re very hopeful that prices will stabilize and decline as we move into the summer," said Gary Stephenson, senior vice president of power supply at LIPA.

News 12 reached out to PSEG Long Island for comment on the possible increase of electric bills.