Heating Oil rose to 2.47 USD/Gal on July 11, 2025, up 3.46% from the previous day. Over the past month, Heating Oil's price has risen 11.10%, but it is still 1.60% 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.

As of the fourth quarter of 2024, oil prices in the United Kingdom stood at 74 dollars per barrel, with prices expected to rise to 76.6 dollars a barrel in early 2025, before gradually falling in subsequent quarters.

Get the latest insights on price movement and trend analysis of Fuel Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

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.

Crude Oil rose to 68.75 USD/Bbl on July 11, 2025, up 3.27% from the previous day. Over the past month, Crude Oil's price has risen 1.04%, but it is still 16.37% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on July of 2025.

United States EIA Forecast: Retail Price incl Tax: Heating Oil data was reported at 305.688 0.01 USD/gal in Dec 2019. This records an increase from the previous number of 300.541 0.01 USD/gal for Nov 2019. United States EIA Forecast: Retail Price incl Tax: Heating Oil data is updated monthly, averaging 281.432 0.01 USD/gal from Mar 2016 (Median) to Dec 2019, with 46 observations. The data reached an all-time high of 312.013 0.01 USD/gal in Jan 2019 and a record low of 196.745 0.01 USD/gal in Apr 2016. United States EIA Forecast: Retail Price incl Tax: Heating Oil data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s USA – Table US.P003: Energy Price: Forecast: Energy Information Administration.

This analysis presents a rigorous exploration of financial data, incorporating a diverse range of statistical features. By providing a robust foundation, it facilitates advanced research and innovative modeling techniques within the field of finance.

Is the Heating Oil Index a Reliable Indicator of Market Trends?

Financial data:

• Historical daily stock prices (open, high, low, close, volume)

• Fundamental data (e.g., market capitalization, price to earnings P/E ratio, dividend yield, earnings per share EPS, price to earnings growth, debt-to-equity ratio, price-to-book ratio, current ratio, free cash flow, projected earnings growth, return on equity, dividend payout ratio, price to sales ratio, credit rating)

• Technical indicators (e.g., moving averages, RSI, MACD, average directional index, aroon oscillator, stochastic oscillator, on-balance volume, accumulation/distribution A/D line, parabolic SAR indicator, bollinger bands indicators, fibonacci, williams percent range, commodity channel index)

Machine learning features:

• Feature engineering based on financial data and technical indicators

• Sentiment analysis data from social media and news articles

• Macroeconomic data (e.g., GDP, unemployment rate, interest rates, consumer spending, building permits, consumer confidence, inflation, producer price index, money supply, home sales, retail sales, bond yields)

Potential Applications:

• Stock price prediction

• Portfolio optimization

• Algorithmic trading

• Market sentiment analysis

• Risk management

Use Cases:

• Researchers investigating the effectiveness of machine learning in stock market prediction

• Analysts developing quantitative trading Buy/Sell strategies

• Individuals interested in building their own stock market prediction models

• Students learning about machine learning and financial applications

Additional Notes:

• The dataset may include different levels of granularity (e.g., daily, hourly)

• Data cleaning and preprocessing are essential before model training

• Regular updates are recommended to maintain the accuracy and relevance of the data

Snapshot img { margin: 10px !important; } The fuel oil market size will decrease by USD 84.77 billion during 2020-2024. This report provides a detailed analysis of the market by application (marine, industrial, and others) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp., Exxon Mobil Corp., JXTG Holdings Inc., PJSC LUKOIL, PT Pertamina(Persero), Qatar Petroleum, Reliance Industries Ltd., Royal Dutch Shell Plc, and SK Innovation Co. Ltd.

Market Overview

Browse TOC and LoE with selected illustrations and example pages of Fuel Oil Market

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Market Competitive Analysis

The fuel oil market is fragmented with numerous vendors that produce and supply fuel oil to customers. Vendors need to make high capital investments to remain competitive in the market. BP Plc, Chevron Corp., and Exxon Mobil Corp. are some of the major market participants. Although the rise in world energy demand will offer immense growth opportunities, the fluctuations in crude oil prices will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market position, this fuel oil market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this fuel oil market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading companies, including:

BP Plc
Chevron Corp.
Exxon Mobil Corp.
JXTG Holdings Inc.
PJSC LUKOIL
PT Pertamina(Persero)
Qatar Petroleum
Reliance Industries Ltd.
Royal Dutch Shell Plc
SK Innovation Co. Ltd.

Fuel Oil Market: Segmentation by Application

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The primary requirement of any marine engine is to propel the ship or generate onsite power by using the energy obtained from burning fuel oil. The mega marine engines of ships burn tons of fuel every day to propel the massively loaded ships. The rise in demand for bunker fuel oil due to the growing seaborne trade and growing naval activities will drive the demand for fuel oil for marine.

However, market growth in this segment will be slower than the growth of the market in the industrial and other segments. This report provides an accurate prediction of the contribution of all the segments to the growth of the fuel oil market size.

Fuel Oil Market: Segmentation by Geography

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North America will offer several growth opportunities to market vendors during the forecast period. The strong consumption of space heating fuel, growing refinery capacity, and proliferating marine trade will significantly influence fuel oil market growth in this region over the forecast period. The US is a key market for fuel oil in North America.

Fuel Oil Market: Key Drivers and Trends

The fluctuation in oil prices has affected the business of several oil and gas companies and refinancing companies. As a result, crude oil processing projects generate less revenue and many oil and gas companies suspend or postpone their exploration and production projects. Fluctuations in crude oil prices also impact investments in E&P and refining projects. Such factors will result in a slowdown in the growth of the global fuel oil market during the forecast period.

The adoption of blockchain in the oil and gas industry helps in overcoming several issues including the complexity of logistics, high fuel prices, and environmental pollution. Blockchain platforms facilitate secure and faster transactions between the entities and maintain transparency. Blockchain also helps in reducing cash cycle time and intermediary costs. These benefits will result in an increase in the adoption of blockchain to enhance the overall operational efficiency of the existing refineries. As a result of such factors, the fuel oil market will register a CAGR of (13)% during the forecast period.

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Fuel Oil Market: Key Highlights of the Report for 2020-2024

CAGR of the market

United States EIA Forecast: Refiner Price: Resale: Heating Oil data was reported at 211.592 0.01 USD/gal in Dec 2019. This records an increase from the previous number of 208.432 0.01 USD/gal for Nov 2019. United States EIA Forecast: Refiner Price: Resale: Heating Oil data is updated monthly, averaging 189.427 0.01 USD/gal from Mar 2016 (Median) to Dec 2019, with 46 observations. The data reached an all-time high of 214.758 0.01 USD/gal in Sep 2018 and a record low of 106.399 0.01 USD/gal in Mar 2016. United States EIA Forecast: Refiner Price: Resale: Heating Oil data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s USA – Table US.P003: Energy Price: Forecast: Energy Information Administration.

Brent rose to 70.45 USD/Bbl on July 14, 2025, up 0.12% from the previous day. Over the past month, Brent's price has fallen 3.80%, and is down 16.98% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil - values, historical data, forecasts and news - updated on July of 2025.

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.

This dataset provides values for HEATING OIL reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

On July 7, 2025, the Brent crude oil price stood at 69.62 U.S. dollars per barrel, compared to 67.93 U.S. dollars for WTI oil and 69.92 U.S. dollars for the OPEC basket. Prices rose slightly that week, following signs of an increase in demand.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 (whereby a contract is agreed upon, while the 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.

Germany Gasoline Price: With Taxes: Heating Gas Oil data was reported at 886.600 EUR/1000 l in 12 May 2025. This records a decrease from the previous number of 895.000 EUR/1000 l for 05 May 2025. Germany Gasoline Price: With Taxes: Heating Gas Oil data is updated weekly, averaging 685.570 EUR/1000 l from Jan 2002 (Median) to 12 May 2025, with 1162 observations. The data reached an all-time high of 1,972.000 EUR/1000 l in 14 Mar 2022 and a record low of 308.100 EUR/1000 l in 21 Jan 2002. Germany Gasoline Price: With Taxes: Heating Gas Oil data remains active status in CEIC and is reported by European Commission's Directorate-General for Energy. The data is categorized under Global Database’s Germany – Table DE.DG ENER: Gasoline Price.

This analysis presents a rigorous exploration of financial data, incorporating a diverse range of statistical features. By providing a robust foundation, it facilitates advanced research and innovative modeling techniques within the field of finance.

Heating Oil TR/CC CRB Spot Market Signals Potential Price Volatility.

Financial data:

• Historical daily stock prices (open, high, low, close, volume)

• Fundamental data (e.g., market capitalization, price to earnings P/E ratio, dividend yield, earnings per share EPS, price to earnings growth, debt-to-equity ratio, price-to-book ratio, current ratio, free cash flow, projected earnings growth, return on equity, dividend payout ratio, price to sales ratio, credit rating)

• Technical indicators (e.g., moving averages, RSI, MACD, average directional index, aroon oscillator, stochastic oscillator, on-balance volume, accumulation/distribution A/D line, parabolic SAR indicator, bollinger bands indicators, fibonacci, williams percent range, commodity channel index)

Machine learning features:

• Feature engineering based on financial data and technical indicators

• Sentiment analysis data from social media and news articles

• Macroeconomic data (e.g., GDP, unemployment rate, interest rates, consumer spending, building permits, consumer confidence, inflation, producer price index, money supply, home sales, retail sales, bond yields)

Potential Applications:

• Stock price prediction

• Portfolio optimization

• Algorithmic trading

• Market sentiment analysis

• Risk management

Use Cases:

• Researchers investigating the effectiveness of machine learning in stock market prediction

• Analysts developing quantitative trading Buy/Sell strategies

• Individuals interested in building their own stock market prediction models

• Students learning about machine learning and financial applications

Additional Notes:

• The dataset may include different levels of granularity (e.g., daily, hourly)

• Data cleaning and preprocessing are essential before model training

• Regular updates are recommended to maintain the accuracy and relevance of the data

Extra Light Heating Oil Market Outlook

The global market size for Extra Light Heating Oil (ELHO) was valued at approximately USD 20 billion in 2023 and is projected to reach around USD 28 billion by 2032, reflecting a Compound Annual Growth Rate (CAGR) of 3.8% during the forecast period. A key driver for this growth is the rising demand for efficient and cleaner heating solutions in residential and commercial sectors, coupled with advancements in fuel technology and stricter environmental regulations.

One of the significant growth factors for the Extra Light Heating Oil market is the increasing focus on energy efficiency and reduced emissions. Governments and environmental agencies worldwide are imposing stringent regulations to curb carbon emissions, which is pushing consumers towards cleaner and more efficient heating solutions. ELHO, being a lower sulfur content fuel, is seen as a viable alternative to heavier oils and coal, which are notorious for their high emissions. Additionally, innovations in refining processes are improving the quality of ELHO, making it an even more attractive option for various applications.

Another crucial factor is the rising demand from the residential sector, particularly in colder climates where heating is essential. Consumers are increasingly opting for ELHO due to its cost-effectiveness compared to electric heating and its relatively lower environmental impact. The convenience of modern heating systems that use ELHO, combined with their efficiency, makes them a popular choice for homeowners. Moreover, the volatility in electricity prices is also driving consumers to seek more stable and reliable heating options, further propelling the demand for ELHO.

The commercial and industrial sectors are also contributing to the growth of the ELHO market. These sectors require large volumes of heating oil for various processes and operations, and the efficiency and environmental benefits of ELHO are making it a preferred choice. Industries such as manufacturing, warehousing, and hospitality rely heavily on heating solutions, and the shift towards more sustainable options is boosting the demand for ELHO. Furthermore, the development of advanced heating technologies that are compatible with ELHO is enhancing its adoption in these sectors.

In the context of maintaining the quality and efficiency of Extra Light Heating Oil, the role of a Fuel Oil Ageing Bath becomes crucial. This specialized equipment is used to simulate the ageing process of fuel oils under controlled conditions, providing valuable insights into their long-term stability and performance. By understanding how ELHO behaves over time, manufacturers can enhance refining processes and develop additives that prolong the fuel's shelf life and maintain its combustion efficiency. This is particularly important for large-scale consumers in the commercial and industrial sectors, where consistent fuel quality is essential for operational efficiency.

Regionally, Europe is the largest market for ELHO due to its cold climate and the stringent environmental regulations in place. The region is focused on reducing its carbon footprint and is thus investing heavily in cleaner heating solutions. North America is also a significant market, driven by the demand for efficient heating in residential and commercial buildings. The Asia Pacific region is emerging as a potential market, with growing industrialization and urbanization driving the need for reliable heating solutions. Latin America and the Middle East & Africa are smaller markets but are expected to see steady growth due to their developing economies and increasing focus on energy efficiency.

Type Analysis

The Extra Light Heating Oil market can be segmented by type into Kerosene, Diesel, Biofuels, and Others. Kerosene is a widely used type of ELHO due to its high heat output and relatively lower cost. It is particularly popular in residential heating applications, where it is used in furnaces and space heaters. The efficiency of kerosene as a heating fuel and its easy availability make it a preferred choice for many consumers. However, the environmental impact of kerosene is a concern, and this is leading to a gradual shift towards cleaner alternatives.

Diesel, another popular type of ELHO, is extensively used in both r

The size of the Fuel Oil Market was valued at USD XX Million in 2024 and is projected to reach USD XXX Million by 2033, with an expected CAGR of XX% during the forecast period.Fuel oil is a liquid product derived from distillation of crude oil. It consists of an intricate mixture of hydrocarbons which mainly includes alkanes, cycloalkanes, and aromatics. Fuels are divided into several classes depending on the range of distillation and viscosity at which they exist. Heavier fuels contain larger hydrocarbon molecules.Fuel oils are extensively used in a number of industries. It is the primary fuel used in large industrial boilers and furnaces to generate power in the industrial sector. It is also used in various industrial processes, such as heating, manufacturing, and transportation. In the marine industry, fuel oil, especially heavy fuel oil (HFO), is a common fuel for large ships and vessels. Fuel oil can also be used in domestic heating, although its application in this area has decreased in many regions due to environmental issues and other available fuels.Fuel oil market drivers include worldwide oil prices, economic development, environmental policies and regulations, as well as alternative fuel source development.

Provides annual, quarterly, and monthly prices back to 1976 for gasoline , heating oil, and diesel fuel. Also provides annual prices from 1968 and quarterly and monthly prices from 1974 for imported crude oil. Based on Form EIA-878 data.

United Kingdom Purchase Price: Heavy Fuel Oil: Total Average data was reported at 463.172 GBP/Tonne in Jun 2018. This records an increase from the previous number of 446.503 GBP/Tonne for Mar 2018. United Kingdom Purchase Price: Heavy Fuel Oil: Total Average data is updated quarterly, averaging 150.950 GBP/Tonne from Mar 1989 (Median) to Jun 2018, with 118 observations. The data reached an all-time high of 627.500 GBP/Tonne in Mar 2012 and a record low of 59.300 GBP/Tonne in Mar 1992. United Kingdom Purchase Price: Heavy Fuel Oil: Total Average data remains active status in CEIC and is reported by Department for Business, Energy and Industrial Strategy. The data is categorized under Global Database’s United Kingdom – Table UK.P008: Energy Overview: Purchase Price.