Home Heating Oil Prices
The wholesale heating-oil benchmark closed at $4.710 per gallon (2026-10-19) — your delivered price adds roughly a dollar of distribution, margin and taxes on top. How the price is built, when to fill up, and what to watch before winter.
From NYMEX to Your Tank
| Layer | ≈Share of delivered price | What it covers |
|---|---|---|
| Wholesale (NYMEX HO) | 60–70% | The futures benchmark — tracks crude and the distillate market; live chart here |
| Distribution & storage | ≈15% | Barge/pipeline to terminals, truck delivery to your tank |
| Dealer margin | ≈15% | Service, financing, small-lot delivery economics |
| Taxes | varies | State-dependent; some states exempt heating fuel |
Approximate shares; small orders and COD deliveries price higher per gallon. Related: the futures benchmark · why distillates cost more · natural gas (the main competing heat source) · distillate stocks in the weekly EIA report.
Heating-oil (ULSD) margin over WTI: Where It Stands
Daily closes through Oct 19, 2026| Measure | Value | Context |
|---|---|---|
| Latest | $100.12 $/bbl | −$4.23 on the day |
| Average, last 252 trading days | $66.09 | latest is above it by $34.03 |
| Highest in that window | $117.94 | Sep 16, 2026 |
| Lowest in that window | $30.36 | Jan 6, 2026 |
| Percentile | 85% | higher than 85% of the past 252 closes |
| A year earlier | $34.54 | change +$65.58 |
ULSD futures × 42 gallons minus WTI, in dollars per barrel: the distillate refining margin that explains why heating oil can rise when crude does not. Today's retail gap and distillate stocks: diesel market dashboard. Computed on the dates both legs have a close, from this site's two-year daily history (from Oct 21, 2024). Descriptive statistics, not a forecast.
Heating-oil (ULSD) margin over WTI by Month, Last 12 Months
| Month | Average | High | Low | Month-end |
|---|---|---|---|---|
| Oct 2026 TO DATE | $105.40 | $113.60 | $97.93 | $100.12 |
| Sep 2026 | $108.62 | $117.94 | $98.83 | $117.77 |
| Aug 2026 | $95.00 | $103.03 | $82.49 | $103.03 |
| Jul 2026 | $84.10 | $99.08 | $64.95 | $88.45 |
| Jun 2026 | $61.12 | $69.81 | $54.73 | $69.81 |
| May 2026 | $65.32 | $72.50 | $61.19 | $61.19 |
| Apr 2026 | $67.01 | $75.08 | $58.82 | $68.73 |
| Mar 2026 | $72.79 | $95.22 | $50.57 | $73.47 |
| Feb 2026 | $40.51 | $47.22 | $36.80 | $45.16 |
| Jan 2026 | $37.47 | $49.70 | $30.36 | $49.70 |
| Dec 2025 | $34.93 | $39.17 | $31.30 | $31.66 |
| Nov 2025 | $44.67 | $52.70 | $39.04 | $39.44 |
Calendar-month statistics of the daily values; the current month is partial. Live prices behind it: oil price charts.
Heating Oil FAQ
What is the heating oil price right now?
The wholesale benchmark — NYMEX heating oil futures — last closed at $4.710 per gallon (2026-10-19). Delivered residential prices run roughly 80¢–$1.50 above wholesale after distribution, the dealer's margin and local taxes, so expect home delivery quotes a dollar or so higher. The EIA publishes official residential prices weekly during the October–March heating season.
Why did heating oil move more than crude?
Because the price of the product is crude plus a refining margin that moves on its own. The margin between ULSD (the heating-oil benchmark) and WTI is $100.12 a barrel at the Oct 19 close, against a one-year average of $66.09 and a range of $30.36 to $117.94. When that margin widens, heating oil rises faster than crude.
When is the best time to buy heating oil?
Historically late summer (July–September), when heating demand is at its annual low — though it's a tendency, not a rule, and a mild-winter forecast or crude selloff can make midwinter cheaper. What reliably costs money is buying in a cold snap, when demand spikes and delivery slots tighten. Many dealers offer pre-buy or price-cap contracts each summer; compare them against your risk tolerance rather than treating them as guaranteed savings.
Why did my heating oil price jump when crude barely moved?
Heating oil is a distillate, so its price follows the diesel/distillate market, not crude alone. Low regional distillate inventories, a cold snap, or refinery problems can widen the gap sharply — in 2022 Northeast heating oil hit records even on days crude fell. Watch distillate stocks in the weekly EIA report for the early signal.
Which states use the most heating oil?
The Northeast is essentially the entire market: New York, Pennsylvania, Massachusetts, Connecticut and Maine account for most US consumption, with roughly 4 in 10 Maine homes still heating with oil — a legacy of pre-natural-gas infrastructure. Elsewhere, gas, electricity and heat pumps have largely replaced it.