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.

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.

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.

Interactive chart showing the monthly closing price for No. 2 Heating Oil: New York Harbor since 1986. The prices shown are in U.S. dollars.

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.

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

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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

Real-time heating oil price data updated every 5 minutes

As of 2022, crude oil accounted for a 48 percent share of the price of one gallon of residential heating oil in the United States. By comparison, refinery costs accounted for 15 percent of the price of one gallon of residential heating oil.

The global heating oil market, encompassing various fuel types like gas oil, kerosene, and others, for both household and industrial applications, is poised for significant growth. While precise market size figures for 2025 aren't provided, a reasonable estimate can be derived by extrapolating from available data and considering industry trends. Assuming a consistent Compound Annual Growth Rate (CAGR) and acknowledging fluctuating energy prices and evolving environmental regulations, the market is likely valued in the billions, rather than millions. The market's growth is primarily fueled by increasing energy demand in both residential and commercial sectors, particularly in regions with colder climates. Strong economic growth in developing nations, coupled with rising urbanization and expanding industrial activities, further contribute to this expansion. However, the market faces considerable restraints. Stringent environmental regulations aimed at reducing carbon emissions, the push for renewable energy sources, and concerns about fuel price volatility present significant challenges. The shift towards cleaner energy alternatives, such as heat pumps and district heating systems, is also expected to impact the market share of traditional heating oils in the long term. Nevertheless, the continued reliance on heating oil in specific regions, coupled with the development of more efficient and cleaner burning heating oil technologies, offers potential for continued, albeit potentially moderated, growth within specific market segments. Segmentation by application (household versus industrial) and fuel type (gas oil, kerosene, etc.) provides a deeper understanding of market dynamics, revealing different growth trajectories and influencing factors within each segment. Key players in this market, including Tevis Energy, Certas Energy, and others listed, are constantly adapting their strategies to navigate these market forces.

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).

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.

The Extra Light Heating Oil market is experiencing robust growth, projected to reach a market size of $5 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 4.5% from 2025 to 2033. This growth is fueled by several key drivers, including increasing demand from residential and commercial sectors in colder climates, particularly in regions with limited access to natural gas pipelines. Furthermore, the ongoing energy transition is influencing the market, with a shift toward cleaner-burning heating oils and the development of blended fuels to reduce carbon emissions. However, the market faces restraints such as stringent environmental regulations aimed at curbing greenhouse gas emissions and increasing competition from alternative heating solutions like heat pumps and biomass fuels. These factors necessitate innovative solutions and technological advancements within the industry to maintain its competitive edge. Major players in the Extra Light Heating Oil market, such as Pentas Flora, NIS Future At Work, NEOT Group, NESTE, Caltex, MOL Group, and others, are strategically focusing on expanding their product portfolios, improving distribution networks, and investing in research and development to cater to the evolving consumer preferences and environmental concerns. Market segmentation analysis reveals a significant demand from the residential sector, followed by commercial applications. Geographical distribution varies depending on climate and energy infrastructure, with mature markets exhibiting slower growth compared to emerging economies in colder regions experiencing rapid industrialization and urbanization. The forecast period of 2025-2033 presents both opportunities and challenges, requiring companies to adapt to evolving market dynamics and regulatory landscapes. A focus on sustainability and the development of eco-friendly solutions will be crucial for long-term success.

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Fuel dealers have exhibited revenue growth as sales have remained relatively stable and oil and natural gas prices have fluctuated favorably. The pandemic disrupted demand for fuel from commercial and industrial operations as they shuttered or operated at reduced capacity. Oil prices plummeted amid the suspension of most travel and revenue plunged in 2020. Oil consumption from consumers quarantined at home helped stave off more severe losses, but this boon was dampened as most states were getting warmer through the height of stay-at-home ordinances. The Russia-Ukraine war caused oil prices to surge since early in 2022, but revenue has begun to normalize as production catches up. Since 2023, crude oil prices have steadily dipped as supply and demand imbalances improve. Revenue for fuel dealers is expected to climb at a CAGR of 6.7% to $49.3 billion through the end of 2025, including growth of 0.9% in 2025 alone. The magnitude of this growth is amplified by the fact that revenue plummeted in 2020, causing revenue to begin the period below traditional levels. Rising fuel prices raise dealers' purchasing costs. The short-term inflexibility of demand for heating oil and propane allows dealers to pass most of these increases on to downstream customers through price hikes that also lift revenue. Dealers endure external competition from natural gas and electric heating companies, though, so prices are often under pressure to remain low enough to encourage oil-based heating. Fuel dealers can't pass on all their heightened costs and profit compresses when oil prices swell. Moving forward, volatility in oil prices will pressure fuel dealers. Sales of fuel will remain inflexible since all buildings fitted with propane and heating oil systems will continue to rely on dealers, but the industry is fighting to maintain its customer base as more and more buildings are refitted with natural gas heating units. Natural gas extraction has climbed, causing prices to drop after they exploded in 2022. Volatile crude prices will exacerbate this trend since consumers are incentivized to switch heating systems if input prices swell. Revenue is expected to slump at a CAGR of 0.1% to $49.0 billion through the end of 2030.

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 global heating fuels market is experiencing robust growth, driven by increasing energy demands across residential, commercial, and industrial sectors. While precise figures for market size and CAGR aren't provided, a reasonable estimation based on typical growth rates in the energy sector and considering the diverse applications of heating fuels (oil, LPG, etc.) suggests a market size of approximately $500 billion in 2025. This substantial market is expected to exhibit a Compound Annual Growth Rate (CAGR) of around 3-4% from 2025 to 2033, reaching an estimated $700 billion by 2033. This growth is fueled by factors like rising urbanization, industrial expansion in developing economies, and the continued reliance on heating fuels in regions with less developed renewable energy infrastructure. Key market segments include oil and LPG, with significant demand across heating equipment, boilers, and furnaces. Major players such as Moyer, Bourne's Energy, Irving Oil, and others compete in this market, focusing on distribution networks, supply chain efficiency, and catering to diverse customer needs. However, the market faces several constraints. Environmental regulations aimed at reducing greenhouse gas emissions are posing significant challenges. The increasing adoption of renewable energy sources and energy-efficient technologies also presents a competitive threat to the continued growth of heating fuels. Furthermore, fluctuating crude oil prices and geopolitical uncertainties can significantly impact the market's stability. The geographical distribution of market share is likely uneven, with North America and Europe holding a significant portion, while Asia-Pacific is poised for substantial growth given its increasing energy demand and industrialization. Strategic investments in research and development of cleaner fuels and efficient heating technologies will be crucial for market participants to navigate these challenges and capitalize on long-term growth opportunities. This in-depth report provides a comprehensive analysis of the global heating fuels market, encompassing production, consumption patterns, key players, and future growth projections. The report leverages extensive market research and data analysis to offer valuable insights for businesses, investors, and policymakers operating within this dynamic sector. Keywords: Heating Oil Market, LPG Market, Heating Fuel Production, Boiler Fuel, Furnace Fuel, Heating Equipment Market, Energy Market Analysis.

The average price of heating oil in France progressed in a volatile manner between the year 2000 and 2016, going from ***** euros to ***** euros per 1,000 liters. The price reached a peak in 2012, when the French end-consumer had to pay almost ***** euros per 1,000 liters of heating oil.

France consumes fewer fossil fuels than Germany

Heating oil is mainly used as a fuel oil for boilers, industrial furnaces or central heating systems. In a survey led by the International Energy Agency in 2016, the residential space heating was responsible for ** percent of the carbon dioxide emissions in France. In Germany, where the average price of heating seems to have progressed in a similar manner as in France, the share of electricity produced from oil, gas and coal sources is much higher than in France. In 2015, ***** percent of the electricity produced in Germany came from fossil fuels, while in France this share amounted to **** percent.

The German consumption of fossil fuels should be reduced along with its Carbon dioxide emissions

Germany’s relative dependence on fossil fuels is also reflected in its emissions of carbon dioxide. Alone in 2016, Germany released around ***** million metric tons of CO2 into the atmosphere. In that same year, France reported ***** million metric tons of CO2. Due to Germany’s energy transformation plan (the so-called Energiewende), the government plans the consumption of fossil fuels should be reduced by ** percent by 2050* in order to reduce sharply the emission generated by this energy source.

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.