Heating Oil rose to 2.35 USD/Gal on December 2, 2025, up 0.21% from the previous day. Over the past month, Heating Oil's price has fallen 2.25%, but it is still 6.31% higher 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 December of 2025.

Graph and download economic data for Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in U.S. City Average (APU000072511) from Nov 1978 to Sep 2025 about fuels, energy, retail, price, and USA.

The price of crude oil per gallon can vary widely depending on factors such as global supply and demand, geopolitical events, economic conditions, and weather patterns. Find out what influences crude oil prices and how it impacts the cost of gasoline and other petroleum products.

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.

On October 27, 2025, the Brent crude oil price stood at 65.14 U.S. dollars per barrel, compared to 61.31 U.S. dollars for WTI oil and 67.54 U.S. dollars for the OPEC basket. Oil prices rose slightly that week.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 global 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.

Explore the factors influencing soybean oil prices in 2023, including supply-demand dynamics, geopolitical events, and biofuel policies. Understand how trade policies, crude oil prices, and technological advancements affect this essential commodity's cost.

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.

Graph and download economic data for Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in Size Class B/C (APUN00072511) from Jan 1998 to Sep 2025 about fuels, energy, retail, price, 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.

The price of 55 gallons of crude oil can vary widely depending on global demand, supply levels, geopolitical events, and economic conditions. Learn more about how the price of oil is determined, its historical volatility, and its impact on various sectors of the economy.

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.

View monthly updates and historical trends for Average Crude Oil Spot Price. Source: World Bank. Track economic data with YCharts analytics.

In August 2025, crude oil accounted for a 51 percent share of the retail cost of gasoline in the United States. Crude oil costs are the greatest determining factor for petroleum product prices such as gasoline. This is also reflected in the U.S. diesel price breakdown, with crude oil making up 42 percent of the retail price that same month. U.S. gasoline cost breakdown The end price that consumers pay for gasoline in the U.S. is made up of several different components. The weighting of these different costs in the end price of gasoline is also very dynamic depending on the market. In April 2020, just 25 percent of the cost of one U.S. gallon of gasoline was from the cost of crude oil, as a result of the 2020 oil crisis. Other cost components are those associated with refining, distribution and marketing, and taxes. Residents in California pay the highest gasoline taxes out of all U.S. states, at 68.1 cents per gallon as of January 2024. U.S. gasoline prices Since 1980, U.S. gasoline prices have fluctuated greatly, usually reflecting the volatile nature of crude oil prices. The U.S. has some of the lowest unleaded premium prices in the world. When looking at the real U.S. gasoline price to end users, figures amounted to 1.24 real U.S. dollars per gallon in 2023. This ‘real’ U.S. dollars figure refers to the purchasing power of one U.S. dollar relative to the period of time between 1982 and 1984.

Learn about the factors that influence the price of crude oil and how it can fluctuate over time, including supply and demand dynamics, geopolitical events, economic conditions, and the specific grade of oil.

United States - Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the Northeast Census Region - Urban was 3.52300 Index in September of 2025, according to the United States Federal Reserve. Historically, United States - Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the Northeast Census Region - Urban reached a record high of 6.11100 in May of 2022 and a record low of 0.54100 in November of 1978. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Average Price: Fuel Oil #2 per Gallon (3.785 Liters) in the Northeast Census Region - Urban - last updated from the United States Federal Reserve on November of 2025.

View weekly updates and historical trends for Pennsylvania Residential Heating Oil Price. from United States. Source: Energy Information Administration. T…

Learn about the factors that influence the price of crude oil, including supply and demand dynamics, geopolitical events, economic indicators, and weather patterns. Discover how benchmarks and indexes are used to track crude oil prices and how volatility and price fluctuations can impact various sectors of the economy.

View weekly updates and historical trends for New York Residential Heating Oil Price. from United States. Source: Energy Information Administration. Track…

This statistic shows the price of edible corn oil in the United States from 2004/05 to 2023/24. As of 2017/2018, corn oil prices stood at around 30.35 cents per pound in the United States. By 2022/23, the prices of corn oil increased to 61.62 cents per pound.

View weekly updates and historical trends for New Jersey Residential Heating Oil Price. from United States. Source: Energy Information Administration. Tra…