Updated Today at 12:00 AM
Time Horizon | Price Change |
---|---|
1 Day Trend | +$0.046 |
1 Week Trend | -$0.013 |
1 Month Trend | -$0.089 |
1 Year Trend | -$0.491 |
Updated Today at 12:00 AM
Date | Average Oil Price |
---|---|
10/03/2024 | $2.850 |
10/02/2024 | $2.840 |
10/01/2024 | $2.840 |
09/30/2024 | $2.840 |
09/29/2024 | $2.850 |
09/28/2024 | $2.850 |
09/27/2024 | $2.850 |
09/26/2024 | $2.860 |
09/25/2024 | $2.850 |
09/24/2024 | $2.860 |
09/23/2024 | $2.870 |
09/22/2024 | $2.860 |
09/21/2024 | $2.860 |
09/20/2024 | $2.860 |
09/19/2024 | $2.860 |
09/18/2024 | $2.860 |
09/17/2024 | $2.860 |
09/16/2024 | $2.860 |
09/15/2024 | $2.870 |
09/14/2024 | $2.870 |
09/13/2024 | $2.860 |
09/12/2024 | $2.860 |
09/11/2024 | $2.870 |
09/10/2024 | $2.870 |
09/09/2024 | $2.880 |
09/08/2024 | $2.910 |
09/07/2024 | $2.910 |
09/06/2024 | $2.910 |
09/05/2024 | $2.940 |
09/04/2024 | $2.960 |
Homeowners have a variety of home heating fuels to choose from. Natural gas is the most popular choice in Long Island, used by 494,539 or 50.55% of homes. The 2nd most popular choice for Long Island homeowners is heating oil, used by 372,316 homes (38.06%). The remaining homes are heated with electricity (72,512), propane (32,054), no fuel (10,576), and other fuels (14,145).
Long Island Primary Home Heating Fuel Popularity by Number of Households
Fuel | Long Island Households | % of Households |
---|---|---|
Natural Gas | 494,539 | 50.55% |
Heating Oil | 372,316 | 38.06% |
Electricity | 72,512 | 7.41% |
Propane | 32,054 | 3.28% |
No Fuel | 10,576 | 1.08% |
Other Fuels | 6,775 | 0.69% |
Wood | 4,773 | 0.49% |
Solar | 1,928 | 0.20% |
Coal | 669 | 0.07% |
Natural gas (50.55)
Heating oil (38.06)
Electricity (7.41)
Propane (3.28)
No fuel (1.08)
Other fuels (0.69)
Wood (0.49)
Solar (0.20)
Coal (0.07)
Heating oil has become less popular in Long Island. In the 4 years since 2018, the number of heating oil homes fell from 400,279 to 372,316, a 6.99% drop.
Long Island Heating Oil Households (2011 - 2022)
Year | Heating Oil Households |
---|---|
2011 | 487,699 |
2012 | 476,326 |
2013 | 462,390 |
2014 | 449,135 |
2015 | 436,117 |
2016 | 421,206 |
2017 | 412,668 |
2018 | 400,279 |
2019 | 390,813 |
2020 | 382,562 |
2021 | 376,550 |
2022 | 372,316 |
Between 2018 and today, the number of homes using propane as the primary space heating fuel rose from 18,938 to 32,054.
Between 2018 and today, the number of homes using natural gas as the primary space heating fuel rose from 447,424 to 494,539.
Electric space heating systems are becoming more popular in Long Island. Since 2018, the number of homes heating with electricity rose from 59,584 to 72,512, a 21.70% increase.
Solar is the most environmentally friendly of all space heating fuels. With an “active” solar heating system, liquid is circulated between solar panels on a home’s roof and a heat energy storage tank in the basement.
Currently, 1,928 homes in Long Island are heated with active solar arrays. This is a 92.03% increase from 2018, when only 1,004 homes had installed active solar heating.
Last year, Long Island homeowners purchased a total of 665 million gallons of heating oil.
Short Term Trends
Long Island’s overall heating oil use varies from year to year, primarily depending on how cold each winter is. As the temperature outside gets colder, homes’ heating systems need to burn more and more oil to keep homes warm. Last winter in Long Island, the average outside temperature was 14.5° F warmer than the prior winter's average outside temperature.
Long Island Average Winter Temperature
Heating Season | Average Temperature |
---|---|
Winter 2023 - 2024 | 67.7° F |
Winter 2022 - 2023 | 53.2° F |
For Long Island homeowners heating with oil, selecting which of the 707 heating oil companies that serve Long Island is an important decision.
Full Service Oil Companies: Homeowners willing to pay a premium for a “set-it-and-forget-it” heating system choose one of the 93 “full-service” oil companies that serve Long Island. Full service companies such as Lewisy Fuel Oil Inc or Beato Fuel And Appliance Corporation offer automatic fuel delivery and furnace repair under a single roof.
Discount Oil Companies: Also known by the names “COD Fuel Companies” or “Cash Heating Oil Companies”, these companies are for the budget-conscious Long Island homeowner. In return for better prices, you monitor the oil level in your tank and place an order when you run low on oil. Examples of cash heating oil companies that serve Long Island include AnQor Plumbing & Heating and Charles McAvoy Plumbing Inc.
Long Island Heating Oil Company Fast Facts
Heating Oil Companies Serving Long Island: 707 companies
Average Number Of Long Island Homes Served Per Company: 526 homes
Approximately 5,068,061 households in Long Island heat their homes with fuel oil. This makes oil delivery essential, especially when Long Island temperatures drop as low as 42.5° F each winter.
44% of Long Island Households Rely On Heating Oil Delivery Each Winter
Long Island Households | Long Island Heating Oil Households |
---|---|
11.3M | 5.0M |
707 Long Island Oil Companies Go the Distance
With 665 million gallons of heating oil delivered to Long Island homeowners during the winter of 2023, the Long Island community relies on its 707 oil companies to keep warm.
Oil delivery is a two step process: First, an oil truck picks up oil at the nearest bulk fuel terminal. In the case of Long Island, two of the closest terminals are Etmt in Kingston, PA and Citgo in Vestal, NY. Then, the truck delivers the #2 heating oil to homes and businesses in Long Island.