Heating oil is a petroleum product used by many Americans to heat their homes. Historically, the typical current heating oil price has fluctuated from year to year and month to month, generally being higher during the winter months when demand is higher.
Residential space heating is the primary use for heating oil, making the demand highly seasonal. Most of the heating oil use occurs during October through March. The area of the country most reliant on heating oil is the Northeast.
Some customers try to beat rising winter prices by ﬁlling their storage tanks in the summer or early fall when the prices are likely to be lower.
However, most homeowners do not have large enough storage tanks to store the full amount needed to meet winter demands. Because homeowners may have to reﬁll their tanks as often as 4 or 5 times during the heating season, possible rising or spiking prices are a concern.
When crude oil prices are stable, home heating oil prices tend to gradually rise in the winter months when demand is highest. However, at times, prices can surge quickly to very high levels. A homeowner in the Northeast might use 850-1200 gallons of heating oil during a typical winter, while consuming very little during the rest of the year.
To help lower your heat oil costs, you can arrange to have your tank ﬁlled in late summer or early fall when prices are generally lower. Talk to your heating oil dealer about participating in a budget plan to help stabilize your monthly bill. You can also talk to your heating oil dealer about “cap” or ﬁxed price protection programs, which can help keep costs down.
Heating Oil Prices
Latest New York Prices:
as of 02/14/11
New York Statewide : $ 3.671 / Gal
Long Island Region : $ 3.754 / Gal
New York City : $ 3.801 / Gal
Lower Hudson Region : $ 3.736 / Gal
Upper Hudson Region : $ 3.617 / Gal
Capital District Region : $ 3.568 / Gal
North Country Region : $ 3.666 / Gal
Central Region : $ 3.578 / Gal
Western Region : $ 3.515 / Gal
More areas coming soon
We hope to expand this section to include the current heating oil price in more areas.