FUEL PRICES • PRICE CHARTS aND ANALYSIS
FUEL PRICE COMPARISIONS • MORE INFORMATION

Fuel Prices

For the latest fuel price information, visit the Office of Energy and Planning Fuel Price Data page.

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Price Charts and Analysis

How do oil prices this winter compare to previous years? Find out in the Comparison of Petroleum-based Fuels Price Chart.

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Fuel Price Comparisons

(table updated 4/14/08)

How to Read the Table

This table compares prices of heating fuels on a Btu – to - Btu basis. Btus are units of heat energy. This approach is necessary because heating fuels are purchased in different kinds of units, such as gallons, therms, cords and kilowatt-hours (kWh), each containing a different amount of Btus. This table also factors in the different typical efficiencies of the heating systems that use the various fuels. The result is a more meaningful price comparison of the usable heat.

How to Use the Table

Find the price closest to the price for whatever fuel you are currently using. The alternative fuel you are considering will cost less per usable Btu if you can get it at a price LOWER than its price in the same column as the price for the fuel you are currently using. On the other hand, if the alternative fuel you are considering will cost you MORE than its price in the same column as the price you are paying for the fuel you are currently using, the alternative fuel will cost you more per unit of usable energy than the fuel you are currently using.

Example 1: Assume you are currently using #2 heating oil. Is heating oil or seasoned wood a better choice in terms of cost per usable Btu?

• Locate the horizontal row labeled “Heating Oil #2”.
• Moving across the heating oil row, locate the price closest to what you are currently paying, for example: $3.40/gallon.
• Locate the horizontal row labeled “Seasoned Wood”.
• Moving across the seasoned wood row, locate the price per cord that is in the same vertical column as the $3.40/gallon for heating oil. The price is $454.50/cord.

Interpretations:

• Heating oil at $3.40/gallon delivers usable energy at the same price per Btu as seasoned wood at $454.50/cord.
• If you can buy wood for less than $454.50/cord, you will be paying less per usable Btu than you are paying if you keep using heating oil at $3.40/gallon.
• If you must pay more than $454.50/cord, then heating oil at $3.40/ gallon is a better price per Btu.

Example 2: Is heating oil or electricity a better choice in terms of cost per usable Btu?

• Locate the horizontal row labeled “Heating Oil #2”.
• Moving across the heating oil row, locate the price closest to what you are currently paying, for example: $3.40/gallon.
• Locate the horizontal row labeled “Electricity”.
• Moving across the electricity row, locate the price per kilowatt-hour (kWh) that is in the same vertical column as the $2.40/gallon for heating oil. The price is $0.10/kWh.

Interpretations:

• Heating oil at $3.40/gallon delivers usable energy at the same price per Btu as electricity at $0.10/ kWh.
• If you can buy electricity for less than $0.10/kWh, you will be paying less per usable Btu than you are paying if you keep buying heating oil at $3.40 per gallon.
• f you must pay more than $0.10/kWh for electricity, then heating oil at $3.40/gallon is a better price per usable Btu.

But before you decide to change your heating system, remember:

• The cost of new heating equipment can be considerable. If the heat equivalent price difference between your present and future fuels is small, it could take many years to realize any savings from a change.
• Some fuels have additional “costs” associated with them, such as the handling of wood, or annual maintenance costs for oil-fired systems.

Notes

• Heat per unit of each fuel and the average efficiency for each fuel’s heating equipment have been factored into the table. See below chart for factor values used in the table:

• Not all the energy in a fuel becomes usable heat; for example, some heat leaves in exhaust gases via the chimney, which cannot operate properly if the exhaust gas is too cool.
• Efficiency values, except for kerosene, are from the "USDA Fuel Value Calculator, Fifth Edition," (2004) published in cooperation with the Pellet Fuels Institute. Copies are available at 608-231-9200. Kerosene does not appear in the Calculator, so a value of 80% was adopted.

More information on choosing a heating system can be found at:

Energy Efficiency and Renewable Energy’s Space Heating Products and Services
Here you will find general background as well as links to various heating and cooling system types, each with links to extensive product lists that give specifications and efficiency ratings for many makes and models.

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For more infomation and fuel price statistics:

The Energy Information Administration
EIA’s "Residential Heating Oil Prices: What Customers Should Know"
EIA’s "Residential Natural Gas Prices: What Consumers Should Know"
EIA’s “Propane Prices: What Consumers Should Know”
National Association of State Energy Officials
State Heating Oil and Propane Program

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