Updated on October 11, 2024 at 12:00 AM
Time Horizon | Price Change |
---|---|
1 Week Trend | +$0.063 |
1 Month Trend | +$0.105 |
1 Year Trend | +$0.015 |
Updated on October 11, 2024 at 12:00 AM
Date | Average Oil Price |
---|---|
10/11/2024 | $3.235 |
10/10/2024 | $3.231 |
10/09/2024 | $3.227 |
10/08/2024 | $3.229 |
10/07/2024 | $3.218 |
10/04/2024 | $3.173 |
10/03/2024 | $3.169 |
10/02/2024 | $3.052 |
10/01/2024 | $3.041 |
09/30/2024 | $3.041 |
09/27/2024 | $3.045 |
09/26/2024 | $3.052 |
09/25/2024 | $3.053 |
09/24/2024 | $3.054 |
09/23/2024 | $3.079 |
09/20/2024 | $3.078 |
09/19/2024 | $3.075 |
09/18/2024 | $3.075 |
09/17/2024 | $3.081 |
09/16/2024 | $3.103 |
09/13/2024 | $3.127 |
09/12/2024 | $3.126 |
09/11/2024 | $3.130 |
09/10/2024 | $3.136 |
09/09/2024 | $3.139 |
09/06/2024 | $3.152 |
09/05/2024 | $3.157 |
09/04/2024 | $3.119 |
09/03/2024 | $3.138 |
09/02/2024 | $3.158 |
Homeowners have a variety of home heating fuels to choose from. Natural gas is the most popular choice in Massachusetts, used by 1,461,466 or 52.56% of homes. The 2nd most popular choice for Massachusetts homeowners is heating oil, used by 658,818 homes (23.69%). The remaining homes are heated with electricity (489,563), propane (120,615), wood (32,515), and other fuels (50,583).
Massachusetts Primary Home Heating Fuel Popularity by Number of Households
Fuel | Massachusetts Households | % of Households |
---|---|---|
Natural Gas | 1.4M | 52.56% |
Heating Oil | 658,818 | 23.69% |
Electricity | 489,563 | 17.61% |
Propane | 120,615 | 4.34% |
Wood | 32,515 | 1.17% |
Other Fuels | 24,492 | 0.88% |
No Fuel | 19,257 | 0.69% |
Solar | 5,352 | 0.19% |
Coal | 1,482 | 0.05% |
Natural gas (52.56)
Heating oil (23.69)
Electricity (17.61)
Propane (4.34)
Wood (1.17)
Other fuels (0.88)
No fuel (0.69)
Solar (0.19)
Coal (0.05)
Heating oil has become less popular in Massachusetts. In the 10 years since 2012, the number of heating oil homes fell from 822,948 to 658,818, a 19.94% drop.
Massachusetts Heating Oil Households (2011 - 2022)
Year | Heating Oil Households |
---|---|
2011 | 846,202 |
2012 | 822,948 |
2013 | 793,333 |
2014 | 765,821 |
2015 | 742,006 |
2016 | 718,629 |
2017 | 703,025 |
2018 | 685,761 |
2019 | 673,509 |
2020 | 662,932 |
2021 | 658,196 |
2022 | 658,818 |
Between 2012 and today, the number of homes using propane as the primary space heating fuel rose from 63,626 to 120,615.
Between 2012 and today, the number of homes using natural gas as the primary space heating fuel rose from 1,224,446 to 1,461,466.
Electric space heating systems are becoming more popular in Massachusetts. Since 2012, the number of homes heating with electricity rose from 344,996 to 489,563, a 41.90% 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, 5,352 homes in Massachusetts are heated with active solar arrays. This is a 643.33% increase from 2012, when only 720 homes had installed active solar heating.
Last year, Massachusetts homeowners purchased a total of 582 million gallons of heating oil.
Short Term Trends
Massachusetts’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 Massachusetts, the average outside temperature was 9.4° F colder than the prior winter's average outside temperature.
Massachusetts Average Winter Temperature
Heating Season | Average Temperature |
---|---|
Winter 2023 - 2024 | 52.9° F |
Winter 2022 - 2023 | 62.3° F |
For Massachusetts homeowners heating with oil, selecting which of the 800 heating oil companies that serve Massachusetts 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 210 “full-service” oil companies that serve Massachusetts. Full service companies such as Ruggiero Bros Inc or A Hohmann & Co Inc 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 Massachusetts 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 Massachusetts include SPAZIANI ELECTRIC and KEYES NORTH ATLANTIC INC.
Massachusetts Heating Oil Company Fast Facts
Heating Oil Companies Serving Massachusetts: 800 companies
Average Number Of Massachusetts Homes Served Per Company: 829 homes
Average Gallons Delivered per Massachusetts Oil Company: 727,644 gallons per year
Approximately 663,037 households in Massachusetts heat their homes with fuel oil. This makes oil delivery essential, especially when Massachusetts temperatures drop as low as 42.5° F each winter.
23% of Massachusetts Households Rely On Heating Oil Delivery Each Winter
Massachusetts Households | Massachusetts Heating Oil Households |
---|---|
2.7M | 663,037 |
800 Massachusetts Oil Companies Go the Distance
With 582 million gallons of heating oil delivered to Massachusetts homeowners during the winter of 2023, the Massachusetts community relies on its 800 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 Massachusetts, two of the closest terminals are S.r.& M. in East Boston, MA and S.r.& M. in East Boston, MA. Then, the truck delivers the #2 heating oil to homes and businesses in Massachusetts.