Heating Oil fell to 2.45 USD/Gal on July 24, 2025, down 0.16% from the previous day. Over the past month, Heating Oil's price has risen 6.48%, but it is still 0.98% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil - values, historical data, forecasts and news - updated on July of 2025.

The Average Home Heating Oil Prices dataset provides New York residents and businesses with objective information on average residential retail heating fuel oil pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by NYSERDA staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon. The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset. For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Home Heating Oil Prices Dashboard: https://www.nyserda.ny.gov/Researchers-and-Policymakers/Energy-Prices/Home-Heating-Oil/Average-Home-Heating-Oil-Prices The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, accelerate economic growth, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

Find in-season and off-season pricing for heating fuels, including heating oil, propane and wood price surveys by DOER. Links to electric and natural gas rates also available here.

Heating oil price in the United States has peaked in winter 2022/23 at 4.31 U.S. dollars per gallon and has decreased ever since. Heating oil is a liquid petroleum product that is, among other things, used in residential buildings as a fuel oil in furnaces or boilers. Chemically, most heating oils are similar to motor diesel fuels and are often sold interchangeably. Forecast heating price in the U.S. The average price of heating oil in the United States in the winter of 2024/25 is expected to reach 3.44 U.S. dollars per gallon. Energy prices are projected to see a decrease this winter, because of increased production of heating fuels. The number of heating degree days, which are the days in which the average temperature is below 18 degrees Celsius (65 degrees Fahrenheit), also helps quantify the energy demand required to heat a building. What determines heating oil price? Generally, heating oil prices are collected during the heating season between October and March. In the U.S., the greatest determining factor for heating oil prices is the WTI crude oil price. Consumers can lower heating oil bills by considering when they purchase, reducing consumption, and through government assistance programs.

United States - No. 2 Heating Oil Prices: New York Harbor was 2.29200 $ per Gallon in January of 2024, according to the United States Federal Reserve. Historically, United States - No. 2 Heating Oil Prices: New York Harbor reached a record high of 3.56500 in January of 2022 and a record low of 0.39200 in January of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - No. 2 Heating Oil Prices: New York Harbor - last updated from the United States Federal Reserve on July of 2025.

The Average Home Heating Oil Prices dataset provides New York residents and businesses with objective information on average residential retail heating fuel oil pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by NYSERDA staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon. The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset. For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Home Heating Oil Prices Dashboard: https://www.nyserda.ny.gov/Researchers-and-Policymakers/Energy-Prices/Home-Heating-Oil/Average-Home-Heating-Oil-Prices The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, accelerate economic growth, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

Graph and download economic data for No. 2 Heating Oil Prices: New York Harbor (WHOILNYH) from 1986-06-06 to 2025-06-13 about new york harbor, heating, New York, oil, commodities, and USA.

The Average Residential Retail Kerosene Prices dataset provides New York residents and businesses with objective information on average residential retail kerosene pricing in New York State and by region beginning September 4, 2000. Pricing data is obtained via surveys conducted by New York State Energy Research and Development Authority (NYSERDA) staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon.

The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset.

For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Kerosene Prices Dashboard: https://www.nyserda.ny.gov/researchers-and-policymakers/energy-prices/kerosene/average-kerosene-prices

The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit https://nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

The average price of light heating oil fluctuated in the timeline displayed, with a particularly significant price jump recorded in March 2022. As of May 2025, the average consumer price (incl. VAT) for a liter of light heating oil was around 89.6 euro cents.

As of 2025, the average consumer price of light heating oil in Germany was around 95.84 euro cents per liter. Prices fluctuated during the specified time period and were noticeably higher in 2022. Like fuel prices, heating oil prices are important cost factors for consumers.

Monthly average retail prices for gasoline and fuel oil for Canada, selected provincial cities, Whitehorse and Yellowknife. Prices are presented for the current month and previous four months. Includes fuel type and the price in cents per litre.

The Average Residential Retail Propane Prices dataset provides New York residents and businesses with objective information on average residential retail propane pricing in New York State and by region beginning September 8, 1997. Pricing data is obtained via surveys conducted by New York State Energy Research and Development Authority (NYSERDA) staff on a weekly basis during heating season (September to March) and bi-weekly during the rest of the year. All prices are listed in dollars per gallon. The Average Home Heating Oil Prices dataset, Average Residential Retail Kerosene Prices dataset, and Average Residential Retail Propane Prices dataset are collectively referred to as the Heating Fuel Prices dataset. For current and historical residential retail price data, regional comparisons, and fuel type comparisons, please visit the Propane Prices Dashboard: https://www.nyserda.ny.gov/researchers-and-policymakers/energy-prices/propane/average-propane-prices The New York State Energy Research and Development Authority (NYSERDA) offers objective information and analysis, innovative programs, technical expertise, and support to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. To learn more about NYSERDA’s programs, visit nyserda.ny.gov or follow us on X, Facebook, YouTube, or Instagram.

The global fuel energy price index stood at 153.15 index points in May 2025, up from 100 in the base year 2016. Figures decreased that month due to lower heating fuel demand and a fall in crude oil prices. The fuel energy index includes prices for crude oil, natural gas, coal, and propane. Supply constraints across multiple commodities The global natural gas price index surged nearly 11-fold, and the global coal price index rose almost seven-fold from summer 2020 to summer 2022. This notable escalation was largely attributed to the Russia-Ukraine war, exerting increased pressure on the global supply chain. Global ramifications of the Russia-Ukraine war The invasion of Ukraine by Russia played a role in the surge of global inflation rates. Notably, Argentina bore the brunt, experiencing a hyperinflation rate of 92 percent in 2022. The war also exerted a significant impact on global gross domestic product (GDP) growth. Saudi Arabia emerged with a notable increase of nearly three percent, as several Western nations shifted their exports from Russia to Middle Eastern countries due to the sanctions imposed on the former.

On July 21, 2025, the Brent crude oil price stood at 68.98 U.S. dollars per barrel, compared to 67.2 U.S. dollars for WTI oil and 70.65 U.S. dollars for the OPEC basket. Brent and OPEC prices fell slightly that week, while WTI prices rose.Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices hitting a major slump as oil demand drastically declined following lockdowns and travel restrictions. Initial outlooks and uncertainty surrounding the course of the pandemic brought about a disagreement between two of the largest oil producers, Russia and Saudi Arabia, in early March. Bilateral talks between global oil producers ended in agreement on April 13th, with promises to cut petroleum output and hopes rising that these might help stabilize the oil price in the coming weeks. However, with storage facilities and oil tankers quickly filling up, fears grew over where to store excess oil, leading to benchmark prices seeing record negative prices between April 20 and April 22, 2020. How crude oil prices are determined As with most commodities, crude oil prices are impacted by supply and demand, as well as inventories and market sentiment. However, as oil is most often traded in future contracts (where a contract is agreed upon while product delivery will follow in the next two to three months), market speculation is one of the principal determinants for oil prices. Traders make conclusions on how production output and consumer demand will likely develop over the coming months, leaving room for uncertainty. Spot prices differ from futures in so far as they reflect the current market price of a commodity.

Beginning in 2005, the Division of Community and Regional Affairs began collecting prices of heating fuel and unleaded gasoline in 100 select communities. The communities have remained constant since the project’s inception. The prices for unleaded gasoline in these 100 communities are collected via a telephone survey of each fuel retailer and reflect an “at the pump” price per gallon (including tax) on the day of contact. The survey is generally conducted once during the summer and once during the winter in any given year.

In 2021, average price of heating oil in Spain stood at *** euros per thousand liters, up from ***** euros per thousand liter in the previous year. During the period of consideration, average price for heating oil was volatile and peaked in 2012, at ***** euros per one thousand liters.

This statistic shows the change in the price of automotive diesel per liter in selected countries for the period between June 2019 and June 2020. The price changes exclude value added taxes from prices for automotive diesel. In June 2020, the diesel price per liter in the United States was 22.1 percent lower than it was in June 2019.

Change in the price of automotive diesel

There are many types of diesel, most commonly a fractional distillate of petroleum fuel oil, all of which are constantly being developed and adapted for the industry. As of 2006, almost all of the petroleum-based diesel fuels in Europe and North America are an ultra-low sulfur diesel (ULSD). Using ULSD will promote more strict emission technologies for diesel engines and lower-emission fuels. Diesel is used for vehicles with diesel engines. Unlike gas engines, diesel engines usually inject diesel directly into the cylinder to continue combustion and thus, move the piston. Due to high compression ratios, diesel engines are often more efficient than conventional gasoline engines. However, diesel can convert into a gel-like substance in colder temperatures, preventing movement through the fuel systems.

Diesel has a higher volumetric energy density than conventional gasoline, which is important for fuel efficiency. During colder seasons, the price of diesel tends to rise as demand for heating oil also increases. In the U.S., diesel cars only account for approximately three percent of the car market. Meanwhile, in Europe, some 28 percent of passenger cars purchased in the first quarter of 2020 were diesel fueled.

Studies were carried out on a 31-gallon-of-oil-per-ton Green River shale sample to determine the effects of pressure, sweep gas rate, and heating rate on the batch retorting process. Each experiment was performed in a vertical pressure retort with downward sweep gas flow, which could be heated at any predetermined fixed rate to a final bed temperature of about 950/sup 0/F. Pressures from atmospheric to 1,500 psig, nominal heating rates from 14/sup 0/ to 125/sup 0/F/hr, and nitrogen sweep gas space velocities generally in the range from 1 to 125 scf/hr/ft/sup 2/ of bed have been studied. Oil yields, gas yields, and the ultimate distribution of the initial organic carbon in the raw shale are reported. Pressure was the only variable which had an appreciable effect on the results of the retorting process. With increase of pressure, the oil yields (including C/sub 4/ gases) were found to decrease from an average of 93 percent (of modified Fischer assay) at atmospheric pressure to 78 percent at 1,500 psig. Other effects of increasing pressure were an increase in gas production, an increase in retorted shale coke, a decrease in oil specific gravity and viscosity, and an increase in the amounts of lighter distillation fractions for the oil. Oil yields were not found to decrease as greatly with increased pressure as those reported in an earlier study. A simple mathematical model was developed which accounts for the effect of pressure on oil yield. This model also gives oil production curves with time that are in reasonable agreement with measurements made during the current work.

The portable propane water heater market is experiencing robust growth, driven by increasing demand for convenient and reliable hot water solutions in off-grid settings and recreational activities. The market, estimated at $150 million in 2025, is projected to expand significantly over the forecast period (2025-2033), with a Compound Annual Growth Rate (CAGR) of 8%. This growth is fueled by several key factors. Firstly, the rising popularity of camping, RVing, and outdoor adventures is creating a surge in demand for portable hot water solutions. Secondly, the increasing prevalence of natural disasters and power outages is prompting consumers to seek reliable, independent hot water sources. Finally, advancements in technology are leading to more efficient, compact, and user-friendly portable propane water heaters, further enhancing market appeal. Major players like Eccotemp, Enerco, and Camp Chef are actively innovating and expanding their product lines to cater to this growing market segment. Despite this positive outlook, several challenges exist. Price sensitivity among consumers, particularly in economically constrained regions, could limit market penetration. Furthermore, concerns regarding propane safety and environmental impact may pose some restraints. However, the ongoing development of safer and more environmentally friendly propane technologies is expected to mitigate these concerns. The market is segmented by capacity (gallons per minute), fuel type (primarily propane), and application (camping, RVing, construction, etc.), offering various options for diverse consumer needs. Regional variations exist, with North America and Europe currently leading the market due to high adoption rates of recreational activities and robust infrastructure. Future growth is anticipated in emerging markets as disposable incomes rise and awareness of portable water heater benefits increases.

One barrel of crude oil produces up to 42.5 gallons of oil products. Gasoline is the most produced oil product, accounting for 19.5 gallons, followed by diesel and heating oil. The volume of one barrel of crude oil is 42 gallons.

Lubricants demand Lubricants account for a lesser volume of products produced from one barrel of crude oil. Nonetheless, they are of growing importance as the world increasingly relies on machinery on a daily basis. The automotive and industrial sectors especially have a high demand for such products in order to operate smoothly. Lubricants demand worldwide is forecast to continuously increase over the next few years and estimated to climb to over 38 million metric tons by 2028. As of 2020, the United States and China had the largest lubricants market volume.

Global crude oil status quo The U.S. and China are also by far the countries with the highest oil consumption overall. Since 2006, daily global crude oil demand has increased in almost every year. The only exception was 2020, when travel restrictions and lockdowns due to the coronavirus pandemic brought about a decline in fuel demand. Although many governments are seeking to reduce fossil fuel reliance, oil demand is expected to grow further in the next years.