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.

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.

The fuel oil prices in the USA reached 1047 USD/MT in December 2023. In December 2023, the priced of fuel oil in China settled at 758 USD/MT. In Germany, the fuel oil price reached 1237 USD/MT by the end of December 2023.

Heating Oil decreased 0.05 USD/GAL or 2.13% since the beginning of 2025, 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 March of 2025.

Denmark has one of the highest prices for heating oil in the world. In 2020, Danish households paid over 1,600 U.S. dollars per 1,000 liters of light fuel oil. This was more than double the cost of heating oil for households in neighboring Germany. Germany has some of the lowest light fuel oil prices in the world.

Graph and download economic data for No. 2 Heating Oil Prices: New York Harbor (DHOILNYH) from 1986-06-02 to 2025-03-17 about new york harbor, heating, New York, oil, commodities, and USA.

This statistic shows the change in the price of domestic heating oil per liter in selected countries for the period between June 2019 and June 2020. In June 2020, the domestic heating oil price in Germany was some 27.7 percent lower than in June 2019.

Domestic heating oil

The price of domestic heating oil per liter has decreased in many countries. In the United Kingdom, prices dropped by 24.8 percent, while in Canada, prices dropped by 25.5 percent. In the United States, winter heating oil prices increased from 2.06 U.S. dollars per gallon in 2015/2016 during the oil glut years, to 3.07 U.S. dollars per gallon in 2019/20. Domestic heating oil is used for the heating of domestic homes. It is a liquid petroleum product. It is often delivered to homes by a tank truck and stored in above-ground storage tanks. In the United States, this type of oil is known as No. 2 heating oil and prices are tracked by the Department of energy. However, in new single-family houses, use of heating oil in the U.S. is rather uncommon, accounting for less than 0.5 percent of the heating type share since 2013.

Graph and download economic data for Producer Price Index by Commodity: Fuels and Related Products and Power: Home Heating Oil and Distillates (WPU057302) from Jan 1975 to Feb 2025 about heating, fuels, oil, commodities, housing, PPI, inflation, price index, indexes, price, and USA.

For the most part, the average price of light heating oil increased steadily since 2022, with a particularly significant price jump recorded in March 2022. As of December 2024, the average consumer price (incl. VAT) for a liter of light heating oil was around 95 euro cents.

In December 2023, the price of peppermint oil in the United States reached 24938 USD/MT. The peppermint oil prices in Germany concluded at 31920 USD/MT in December 2023. It encompasses an in-depth review of spot price of peppermint oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of peppermint oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

This statistic represents the average price of home heating oil in the Canadian region of Halifax between 1990 and 2011. Here, the price of home heating oil stood at around 56 Canadian cents per litre in 2000.

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 nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, or Instagram.

Households in Germany paid an average of 733.9 euros per thousand liters of heating oil in 2021. Between 2000 and 2021, heating oil prices in Germany fluctuated, peaking at 938.7 euros per thousand liters in 2012.

Residential heating in Germany

There are approximately 40 million households in Germany, with several heat sources available. As of 2020, heating oil represented a quarter of the household heating source in Germany. Although many of Germany’s homes are heated by oil, these systems can be decades old and are a major source of residential CO2 emissions. As a result, the German government has outlined plans to ban oil-fired heating systems by 2026. Natural gas is the most common household heat source in Germany, providing heat to half of Germany’s homes. Most of the energy consumed in residential buildings in Germany is from space heating, followed by water heating.

Heating in new homes in Germany

Due to the move away from heating oil, modern technologies are now used to heat new homes. In 2020, 35.5 percent of new homes in Germany were heated by electric heat pumps. The number of heat pumps in operation in Germany has been increasing steadily in recent years, and totaled 1.3 million in 2020. This was an increase of more than half a million when compared to 2013.

The domestic first purchase price for crude oil in the United States amounted to 76.1 nominal U.S. dollars per barrel in 2023. This figure represents an increase in comparison to 2020, when the lower fuel demand following mobility restrictions imposed to stave off the coronavirus pandemic resulted in a considerable fall in prices. According to the source, the average domestic first purchase price represents the average price at which all domestic crude oil is purchased. From 1976, the price represents an average of actual first purchase prices.

The price of orange oil in USA for Q4 2023 reached 16550 USD/MT in December. It encompasses an in-depth review of spot price of orange oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of orange oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

This statistic represents the average price of home heating oil in the Canadian city of Toronto between 1990 and 2011. Here, the price of home heating oil stood at 54.3 Canadian cents per litre in 2000.

In the fourth quarter of 2023, the price of sesame oil in the United States reached 6317 USD/MT. Similarly, in China, the sesame oil prices hit 5546 USD/MT in December 2023. Germany also saw sesame oil prices reaching 6628 USD/MT during December 2023.

Domestic crude oil prices are influenced by factors such as supply and demand dynamics, geopolitical events, production levels, and global economic conditions. This article explores how these factors impact domestic crude oil prices and their effects on the economy.

Rack Prices - Heating Fuel Prices by date

This statistic represents the average price of home heating oil in the Canadian city of Thunder Bay between 1990 and 2011. Here, the price of home heating oil stood at 54.3 Canadian cents per litre in 2000.