Heating Oil rose to 2.27 USD/Gal on August 8, 2025, up 0.09% from the previous day. Over the past month, Heating Oil's price has fallen 5.82%, and is down 3.06% compared to the same time last year, 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 August of 2025.

On August 4, 2025, the Brent crude oil price stood at 68.59 U.S. dollars per barrel, compared to 66.29 U.S. dollars for WTI oil and 71.58 U.S. dollars for the OPEC basket. OPEC prices rose slightly that week, while Brent and WTI prices fell.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.

As of June 2025, the average annual price of Brent crude oil stood at 71.91 U.S. dollars per barrel. This is over eight U.S. dollars lower than the 2024 average. Brent is the world's leading price benchmark for Atlantic basin crude oils. Crude oil is one of the most closely observed commodity prices as it influences costs across all stages of the production process and consequently alters the price of consumer goods as well. What determines crude oil benchmarks? In the past decade, crude oil prices have been especially volatile. Their inherent inelasticity regarding short-term changes in demand and supply means that oil prices are erratic by nature. However, since the 2009 financial crisis, many commercial developments have greatly contributed to price volatility, such as economic growth by BRIC countries like China and India, and the advent of hydraulic fracturing and horizontal drilling in the U.S. The outbreak of the coronavirus pandemic and the Russia-Ukraine war are examples of geopolitical events dictating prices. Light crude oils - Brent and WTI Brent Crude is considered a classification of sweet light crude oil and acts as a benchmark price for oil around the world. It is considered a sweet light crude oil due to its low sulfur content and low density and may be easily refined into gasoline. This oil originates in the North Sea and comprises several different oil blends, including Brent Blend and Ekofisk crude. Often, this crude oil is refined in Northwest Europe. Another sweet light oil often referenced alongside UK Brent is West Texas Intermediate (WTI). WTI oil prices amounted to 76.55 U.S. dollars per barrel in 2024.

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 2025 annual OPEC basket price stood at ***** U.S. dollars per barrel as of June. This would be lower than the 2024 average, which amounted to ***** U.S. dollars. The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq. The OPEC Reference Basket The OPEC crude oil price is defined by the price of the so-called OPEC (Reference) basket. This basket is an average of prices of the various petroleum blends that are produced by the OPEC members. Some of these oil blends are, for example: Saharan Blend from Algeria, Basra Light from Iraq, Arab Light from Saudi Arabia, BCF 17 from Venezuela, et cetera. By increasing and decreasing its oil production, OPEC tries to keep the price between a given maxima and minima. Benchmark crude oil The OPEC basket is one of the most important benchmarks for crude oil prices worldwide. Other significant benchmarks are UK Brent, West Texas Intermediate (WTI), and Dubai Crude (Fateh). Because there are many types and grades of oil, such benchmarks are indispensable for referencing them on the global oil market. The 2025 fall in prices was the result of weakened demand outlooks exacerbated by extensive U.S. trade tariffs.

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.

United States Refiner Price: End User: EIA: Residual Fuel Oil data was reported at 1.590 USD/gal in Apr 2018. This records an increase from the previous number of 1.452 USD/gal for Mar 2018. United States Refiner Price: End User: EIA: Residual Fuel Oil data is updated monthly, averaging 0.629 USD/gal from Jan 1983 (Median) to Apr 2018, with 424 observations. The data reached an all-time high of 2.784 USD/gal in May 2012 and a record low of 0.259 USD/gal in Jul 1986. United States Refiner Price: End User: EIA: Residual Fuel 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.P002: Energy Price.

Uruguay Fuel Oil Price: Medium data was reported at 26.160 UYU/l in Jul 2018. This records an increase from the previous number of 24.000 UYU/l for Jun 2018. Uruguay Fuel Oil Price: Medium data is updated monthly, averaging 14.040 UYU/l from Jul 1999 (Median) to Jul 2018, with 229 observations. The data reached an all-time high of 26.160 UYU/l in Jul 2018 and a record low of 1.600 UYU/l in Nov 1999. Uruguay Fuel Oil Price: Medium data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Uruguay – Table UY.RB003: Energy Statistics: Petroleum.

This statistic presents the evolution of fuel prices in France between October 2017 and October 2018, by type. During this period, the price of heating oil increased by approximately ** percent, representing a larger budget for households.

Uruguay Fuel Oil Price: Heavy data was reported at 21.450 UYU/l in Oct 2018. This stayed constant from the previous number of 21.450 UYU/l for Sep 2018. Uruguay Fuel Oil Price: Heavy data is updated monthly, averaging 11.510 UYU/l from Jul 1999 (Median) to Oct 2018, with 232 observations. The data reached an all-time high of 21.450 UYU/l in Oct 2018 and a record low of 1.300 UYU/l in Nov 1999. Uruguay Fuel Oil Price: Heavy data remains active status in CEIC and is reported by National Institute of Statistics. The data is categorized under Global Database’s Uruguay – Table UY.RB003: Energy Statistics: Petroleum.

Switzerland Brent Crude Oil Price data was reported at 75.710 USD/Barrel in Oct 2018. This records a decrease from the previous number of 82.790 USD/Barrel for Sep 2018. Switzerland Brent Crude Oil Price data is updated monthly, averaging 25.785 USD/Barrel from Jan 1970 (Median) to Oct 2018, with 586 observations. The data reached an all-time high of 139.390 USD/Barrel in Jun 2008 and a record low of 2.230 USD/Barrel in Dec 1970. Switzerland Brent Crude Oil Price data remains active status in CEIC and is reported by Swiss National Bank. The data is categorized under Global Database’s Switzerland – Table CH.P002: Fuel Prices.

Rack Prices - Heating Fuel Prices by date

Graph and download economic data for Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the New England Census Division (APU011072511) from Jan 2018 to Jun 2025 about fuels, energy, retail, price, and USA.

The global market size of Marine Fuel Oil is $XX million in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million by the end of 2024 with a CAGR of XX% from 2019 to 2024.
Global Marine Fuel Oil Market Report 2019 - Market Size, Share, Price, Trend and Forecast is a professional and in-depth study on the current state of the global Marine Fuel Oil industry. The key insights of the report:
1.The report provides key statistics on the market status of the Marine Fuel Oil manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
2.The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
3.The report presents the company profile, product specifications, capacity, production value, and 2013-2018 market shares for key vendors.
4.The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
5.The report estimates 2019-2024 market development trends of Marine Fuel Oil industry.
6.Analysis of upstream raw materials, downstream demand, and current market dynamics is also carried out
7.The report makes some important proposals for a new project of Marine Fuel Oil Industry before evaluating its feasibility.
There are 4 key segments covered in this report: competitor segment, product type segment, end use/application segment and geography segment.
For competitor segment, the report includes global key players of Marine Fuel Oil as well as some small players. At least 15 companies are included:
* Exxon Mobil
* BP
* Shell
* China Marine Bunker
* World Fuel Services
* Bunker Holding
For complete companies list, please ask for sample pages.
The information for each competitor includes:
* Company Profile
* Main Business Information
* SWOT Analysis
* Sales, Revenue, Price and Gross Margin
* Market Share

For product type segment, this report listed main product type of Marine Fuel Oil market
* Distillate Fuel Oil
* Residual Fuel Oil
For end use/application segment, this report focuses on the status and outlook for key applications. End users sre also listed.
* Tanker Vessels
* Container Vessels
* Bulk Vessels
* General Cargo Vessels

For geography segment, regional supply, application-wise and type-wise demand, major players, price is presented from 2013 to 2023. This report covers following regions:
* North America
* South America
* Asia & Pacific
* Europe
* MEA (Middle East and Africa)
The key countries in each region are taken into consideration as well, such as United States, China, Japan, India, Korea, ASEAN, Germany, France, UK, Italy, Spain, CIS, and Brazil etc.

Reasons to Purchase this Report:
* Analyzing the outlook of the market with the recent trends and SWOT analysis
* Market dynamics scenario, along with growth opportunities of the market in the years to come
* Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
* Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
* Market value (USD Million) and volume (Units Million) data for each segment and sub-segment
* Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
* Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
* 1-year analyst support, along with the data support in excel format.
We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.

United States Consumer Price: Average: Fuel Oil 2 data was reported at 3.132 USD/gal in Jun 2018. This stayed constant from the previous number of 3.132 USD/gal for May 2018. United States Consumer Price: Average: Fuel Oil 2 data is updated monthly, averaging 1.193 USD/gal from Nov 1978 (Median) to Jun 2018, with 475 observations. The data reached an all-time high of 4.649 USD/gal in Jul 2008 and a record low of 0.533 USD/gal in Nov 1978. United States Consumer Price: Average: Fuel Oil 2 data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.P001: Consumer Price.

Graph and download economic data for Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the West North Central Census Division (APU024072511) from Jan 2018 to May 2025 about fuels, energy, retail, price, and USA.

This report captures the Pacific Fuel Price Monitor for the first quarter (Jan -March 2018). Reviews are based on analysis of Means of Platts Singapore(MOPS), Benchmark Saudi Aramco LPG prices(sourced from 3MCO) and Pacific Fuel Prices on an quarterly average (source from Pacific Island countries).

The report captures:

• regional retail fuel prices
• unleaded motor gasoline prices (mogas)
• automotive diesel oil (ADO) prices
• kerosene prices
• liquefied petroleum gas (LPG)
• Exchange Rates

Documents are prepared by the Pacific Community - Georesources and Energy Programme.

Keywords: Petroleum, fossil fuel, price, monitor, fuel price monitor, PFPM

This report captures Pacific Fuel Price Monitor for 2018 based on an annual average. The review covers the Pacific Fuel prices (source from Pacific Island countries including Australia and New Zealand).

The reports captures:

• regional retail fuel prices
• unleaded motor gasoline prices (mogas)
• automotive diesel oil (ADO) prices
• kerosene prices and
• liquefied petroleum gas (LPG)

Refiner Price: Resale: EIA: No 2 Distillate: Fuel Oil data was reported at 2.114 USD/gal in Aug 2018. This records an increase from the previous number of 2.079 USD/gal for Jul 2018. Refiner Price: Resale: EIA: No 2 Distillate: Fuel Oil data is updated monthly, averaging 0.809 USD/gal from Jan 1983 (Median) to Aug 2018, with 428 observations. The data reached an all-time high of 3.802 USD/gal in Jul 2008 and a record low of 0.331 USD/gal in Feb 1999. Refiner Price: Resale: EIA: No 2 Distillate: Fuel Oil data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.P002: Energy Price.