Search thousands of topics on CostHelper.com

BROWSE ALL TOPICS >> appliances babies & children  cars  consumer electronics health & personal care home & garden personal finance  pets  schools small business weddings
CostHelper > Home and Garden  > Electrical, HVAC & Energy Efficiency > Heating Oil

Heating Oil Cost


How Much Does Heating Oil Cost?

 
low costJanuary 2005-March 2010 Average: $1.95-$2.96 a gallonaverage cost2010-2011 Heating Season Average: $2.91-$3.88 a gallonhigh costJanuary-March 2012 Average: $3.85-$4.12 a gallon
post E-mail post Post   Comments (5)

Also called oilheat, No. 2 heating oil or fuel oil No. 2, residential heating oil is most commonly used in homes on the East Coast and in the Midwest, and less often in other regions. Heating oil prices fluctuate widely over time and by location, influenced by the cost of crude oil, production expenses, transportation/distribution costs, and seasonal changes in supply and demand. The federal Energy Information Administration provides an overview[1] of the factors affecting residential heating oil prices.

Typical costs:

  • Home heating oil is measured by the gallon and stored in a heating oil tank. Aboveground tanks are typically 250-275 gallons and might need refilling four to six times in the heating season (October to March), and underground tanks are typically 500-1,000 gallons and might need refilling one to three times a winter, depending on furnace efficiency and usage.
  • Each year, from October to March, the EIA posts weekly nationwide average prices[2] for wholesale and residential heating oil. In October 2013, the average residential price was $3.832. According to EIA historical data[3] , from October 2012 to March 2013 the average price per gallon for residential heating oil varied from $3.969-$4.175, or about $910-$1,000 to refill a 275-gallon tank and $1,850-$2,100 for a 550-gallon tank; and 10 years ago, from October 2003 to March 2004, the average was $1.344-$1.625 a gallon.
  • Location-specific pricing data is available during the heating season for Maine[4] , Massachusetts[5] , Michigan[6] , Nebraska[7] , New Jersey[8] and New York[9] .
  • Most companies charge the market rate for a one-time or spot delivery, but offer slightly discounted prices (typically 10 cents to 25 cents less than the market price the day the deal is signed) for pre-paid or pre-buy contracts covering all deliveries for the heating season. (Contracts can help consumers if heating oil prices increase over the winter, but customers who signed contracts in July 2008 saw the market rate tumble that winter, and many paid penalties of $200-$300 or more to get out of high-priced contracts.)
  • Heating fuel cooperatives or buying groups like the nationwide Heat USA[10] , Co-op Power[11] in New England or Pilgrim Oil Group[12] in New York, New Jersey, Connecticut and Massachusetts charge a membership fee (typically $20-$25 a year) and negotiate a discounted price per gallon (typically 10 25 cents off the market price) for their members.
Related articles: Heating Oil Tank, Boiler, Furnace, Furnace Tune-up, Propane, Propane Tank

What should be included:
  • The tank's fill pipe must be accessible and visible to the delivery company. Before winter starts and after each delivery, check that the fill cap and vent cap are in place and on tight. Alaska's Department of Environmental Conservation explains how to maintain[13] a heating oil tank.
Additional costs:
  • Some contracts include annual cleaning and service for the home's heating system (furnace) for another $100-$300 per winter season.
Discounts:
  • Have the heating oil tank filled in late summer or early fall, when prices are typically lower.
  • Some heating oil companies offer reward programs. For example, Marathon Energy[14] in Brooklyn, NY, awards one point for every gallon of heating oil purchased, and 1,000 points can be redeemed for a $10 Visa debit card; Mansfield Oil[15] in New Jersey gives a $1 credit per gallon for up to 18% of the total gallons purchased from Mansfield; and Neighboroil[16] in Massachusetts awards points for referring other new customers, purchasing products from specific retailers or interacting on the company's website, with points automatically redeemed for discounts on the per-gallon cost of heating oil.
  • The US Department of Health & Human Services provides information about the Low Income Home Energy Assistance Program (LIHEAP[17] ), helping helps low-income households meet urgent home energy needs. LIHEAP is funded by the federal government but handled by each state[18] , so eligibility rules and assistance varies.
Shopping for heating oil:
  • Generally, heating oil dealers are local businesses. For lists of dealers, search for a local oilheat or fuel dealers council/association, like those in Massachusetts[19] , New Hampshire, Eastern New York[20] , the Hudson Valley, Long Island[21] , New York City[22] , the Pacific Northwest or South Jersey[23] .
post E-mail post Post   Comments (5)
CostHelper News


7 Ways to Stretch Your Reduced Food Budget
End of the year budgets are tight for everyone, especially in this economy.It's especially hard for the millions of Americans who depend on government programs like food stamps to help make ends meet. || Posted November 11 2013


7 Lesser-Known Discounts for the 50+ Crowd
As they age, members of the Baby Boomer generation don't like to admit that they're senior citizens, but they love getting discounts. It's kind of a quandary, because some of the best deals available are reduced prices for older folks. || Posted October 21 2013

‣ All CostHelper Blog Posts


What People Are Paying - Recent Comments
current Heating Oil Price
Amount: $3.69
Posted by: cherly in Port Jervis, NY.Posted: June 14th, 2017 11:06AM
Company: Wallace
Is this the best price of Heating oil today?
Was this post helpful to you?   yes     no Report prohibited or spam
February heating price
Amount: $2.09
Posted by: DAVID MITCHELL in MIDDLETOWN, OH.Posted: February 6th, 2017 06:02PM
Company: Estes
Estes a family owned company in Franklin ohio
Was this post helpful to you?   yes     no Report prohibited or spam
home heating oil
Amount: $2.56
Posted by: a user in tolland, CT.Posted: June 17th, 2016 06:06PM
Company: kasden
the cost of a gallon of fuel 256.9 is absurd, is very very high with terrible customer service. Automatic delivery was included with a cap of 2.79.
I would not recommend kasden fuel by any means.
I WOULD RATHER BE WITHOUT OIL THAN TO HAVE A DELIVERY OF OIL FROM KASDEN. THIS EXCESSIVE HIGH PRICE WAS MENTIONED TO NO AVAIL. STAY AWAY
Was this post helpful to you?   yes     no Report prohibited or spam
Way out of date!
Amount: $3.57
Posted by: shellb in Kensington, CT.Posted: October 26th, 2011 09:10AM
Company: Allen Oil, Kensington, CT
By far the best price around right now. This page is almost 2 years out of date and we all know what happened to oil prices in the last 2 years!
Was this post helpful to you?   yes     no Report prohibited or spam
heating season start date and end date in new jersey
Amount: $550.00
Posted by: HANY HANNA in jersey, NJ.Posted: April 30th, 2011 07:04PM
Company: tullo fairview nj
the company decided to change the heating season to be ends on April 1st not 31st as it is with petro oil company and many others in new jersey to charge the consumer hire price specially whome have a cap price and services contract ends by september 2011 any answer please
Was this post helpful to you?   yes     no Report prohibited or spam


 

Comment On Your Experience With Heating Oil
 
Subject:  *
Amount Spent:  *
Company:   
Comments: 
Purchased:  Year: 
City:  * State:  *
 
Information about you:
Email:  * Email addresses are not displayed.
Name:  This is the name we'll display with your post.
me on this computer
*=required field.
 



External Resources:
  1.  www.eia.gov/energyexplained/index.cfm?page=heating_oil_prices
  2.  www.eia.gov/dnav/pet/pet_pri_wfr_dcus_nus_w.htm
  3.  www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPD2F_PRS_NUS_DPG&f=W
  4.  maine.gov/energy/fuel_prices/index.shtml
  5.  www.massenergy.org/heating-oil/prices
  6.  www.dleg.state.mi.us/mpsc/reports/shopp/
  7.  www.neo.ne.gov/statshtml/87.html
  8.  www.newjerseyheatingoil.org/
  9.  www.nyserda.ny.gov/Energy-Data-and-Prices-Planning-and-Policy/Energy-Prices-Data-and-Re...
  10.  www.heatusa.com/
  11.  www.cooppower.coop/products-and-services/home-heating-oil-buying-groups
  12.  www.oilforless.com/
  13.  dec.alaska.gov/spar/perp/heat/facts.htm
  14.  /mecny.com/rewards-program
  15.  www.mansfieldcomfort.com/mansfield_rewards_program
  16.  /lyfepoints.billaway.com/neighboroil
  17.  www.acf.hhs.gov/programs/ocs/programs/liheap/about
  18.  www.acf.hhs.gov/programs/ocs/liheap-state-and-territory-contact-listing
  19.  www.massoilheat.org/dealer-list/
  20.  www.oilheat-ny.com/findMember.php
  21.  www.ohili.org/find.php
  22.  www.nyoha.org/
  23.  www.southjerseyoilheat.com/dealer.php
More Home and Garden Topics
Check Out All Costs for Home and Garden How Much Does Garden Service Cost? How Much Does a Kitchen Remodeling Cost? How Much Does a Propane Tank Cost?

Search Thousands of Topics on CostHelper.com

 
Today's Featured Cost Articles

About CostHelper
CostHelper is based in Silicon Valley and provides consumers with unbiased price information about thousands of goods and services. Our writers are experienced journalists who adhere to our strict editorial ethics policy.

CostHelper Community
Sinus Infections - Steroid shot and sent home
Paid: 2753.00
I woke up having breathing problems. I went to nearby non-hospital THH office. Nurse took blood pressure and temperature. Dr came in the room and spent less than 10 minutes and stated I had sinus infection... [more]
-Bill Moore
Emergency Room Visit Cost
Mold Testing Pacific Palisades, CA
Paid: 800.00
It cost us 800. We were pleased with Knight Environmental consulting who we hired. They were very thorough. Friendly and respectful of our home.They checked everywhere in our 7000ft home and tested the air... [more]
-AMY SCHWARTZ
Mold Inspection Cost
extraction
Paid: 739.00
Had 3 extractions yesterday. The cost was 304.00 each extraction but with some kind of insurance plan you could get 30% off. The plan was 75.00 annually and came at a huge savings on the work as my final cost with the plan was 814... [more]
-Dental mess
Tooth Extraction Cost
McHenry MD - Suburban Propane
Paid: 3300.00
Just got my bill and in 5 weeks we supposedly used 356 gals. Hard to do when you are not there the entire time and you turned the thermostat to 60. They charged $.35 more per gallon then from 5 weeks ago. $3.42 per gallon... [more]
-Check your bill with Suburban
Propane Tank Cost
Laceration from stick
Paid: 25.00
Slipped and fell on a stick while running around on a hill, and recieved 2 lacerations on my right leg, one about an inch long and one about 2 inches long. Called my insurance asap (Kaiser) and they directed me to one of their Urgent Cares... [more]
-
Stitches Cost
Urinalysis was asked of me
Paid: 3920.00
This was supposed to cost $250. Total!$3,675. for a urinalysis. Not mentioned anywhere on ANY search was this required to get a card... [more]
-Nellie28
Medical Marijuana Card Cost