Updated on December 20, 2024 at 12:00 AM
Time Horizon | Price Change |
---|---|
1 Day Trend | +$0.045 |
1 Week Trend | +$0.107 |
1 Month Trend | +$0.167 |
1 Year Trend | -$0.043 |
Updated on December 20, 2024 at 12:00 AM
Date | Average Oil Price |
---|---|
12/20/2024 | $3.178 |
12/19/2024 | $3.132 |
12/18/2024 | $3.119 |
12/17/2024 | $3.125 |
12/16/2024 | $3.104 |
12/13/2024 | $3.071 |
12/12/2024 | $3.071 |
12/11/2024 | $3.069 |
12/10/2024 | $3.068 |
12/09/2024 | $3.066 |
12/06/2024 | $3.070 |
12/05/2024 | $3.085 |
12/04/2024 | $2.994 |
12/03/2024 | $2.983 |
12/02/2024 | $3.035 |
11/29/2024 | $3.023 |
11/28/2024 | $3.029 |
11/27/2024 | $3.054 |
11/26/2024 | $3.018 |
11/25/2024 | $3.026 |
11/22/2024 | $3.060 |
11/21/2024 | $2.973 |
11/20/2024 | $2.955 |
11/19/2024 | $3.010 |
11/18/2024 | $2.952 |
11/15/2024 | $2.796 |
11/14/2024 | $2.810 |
11/13/2024 | $2.810 |
11/12/2024 | $2.810 |
11/11/2024 | $2.975 |
Homeowners have a variety of home heating fuels to choose from. Natural gas is the most popular choice in New Jersey, used by 2,223,446 or 75.05% of homes. The 2nd most popular choice for New Jersey homeowners is electricity, used by 449,355 homes (15.17%). The remaining homes are heated with heating oil (189,055), propane (71,413), no fuel (27,236), and other fuels (28,815).
New Jersey Primary Home Heating Fuel Popularity by Number of Households
Fuel | New Jersey Households | % of Households |
---|---|---|
Natural Gas | 2.2M | 75.1% |
Electricity | 449,355 | 15.2% |
Heating Oil | 189,055 | 6.4% |
Propane | 71,413 | 2.4% |
No Fuel | 27,236 | 0.9% |
Other Fuels | 16,294 | 0.6% |
Wood | 6,739 | 0.2% |
Solar | 5,171 | 0.2% |
Coal | 611 | 0.0% |
Natural gas (75.1%)
Electricity (15.2%)
Heating oil (6.4%)
Propane (2.4%)
No fuel (0.9%)
Other fuels (0.6%)
Wood (0.2%)
Solar (0.2%)
Coal (0.0%)
Heating oil has become less popular in New Jersey. In the 10 years since 2012, the number of heating oil homes fell from 306,439 to 189,055, a 38.31% drop.
New Jersey Heating Oil Households (2011 - 2022)
Year | Heating Oil Households |
---|---|
2011 | 325,772 |
2012 | 306,439 |
2013 | 286,901 |
2014 | 269,931 |
2015 | 254,930 |
2016 | 237,692 |
2017 | 224,067 |
2018 | 212,096 |
2019 | 201,467 |
2020 | 191,671 |
2021 | 188,076 |
2022 | 189,055 |
Between 2012 and today, the number of homes using propane as the primary space heating fuel rose from 40,777 to 71,413.
Between 2012 and today, the number of homes using natural gas as the primary space heating fuel rose from 2,009,822 to 2,223,446.
Electric space heating systems are becoming more popular in New Jersey. Since 2012, the number of homes heating with electricity rose from 277,236 to 449,355, a 62.08% 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, 5,171 homes in New Jersey are heated with active solar arrays. This is a 1578.90% increase from 2012, when only 308 homes had installed active solar heating.
Last year, New Jersey homeowners purchased a total of 170 million gallons of heating oil.
Short Term Trends
New Jersey’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 New Jersey, the average outside temperature was 4.5° F warmer than the prior winter's average outside temperature.
New Jersey Average Winter Temperature
Heating Season | Average Temperature |
---|---|
2024 - 2025 | 43.9° F |
2023 - 2024 | 39.4° F |
For New Jersey homeowners heating with oil, selecting which of the 53 heating oil companies that serve New Jersey 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 6 “full-service” oil companies that serve New Jersey. Full service companies such as Lawes Home Comfort or Globe Petroleum 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 New Jersey 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 New Jersey include Jacquar Fuel Oil and Globe Discount.
New Jersey Heating Oil Company Fast Facts
Heating Oil Companies Serving New Jersey: 53 companies
Average Number Of New Jersey Homes Served Per Company: 4,875 homes
Average Gallons Delivered per New Jersey Oil Company: 3,203,734 gallons per year
Approximately 241,763 households in New Jersey heat their homes with fuel oil. This makes oil delivery essential, especially when New Jersey temperatures drop as low as 42.5° F each winter.
7% of New Jersey Households Rely On Heating Oil Delivery Each Winter
New Jersey Households | New Jersey Heating Oil Households |
---|---|
3.3M | 241,763 |
53 New Jersey Oil Companies Go the Distance
With 170 million gallons of heating oil delivered to New Jersey homeowners during the winter of 2023, the New Jersey community relies on its 53 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 New Jersey, two of the closest terminals are Buckeye in Buckeye, NJ and Meenan in Tullytown, PA. Then, the truck delivers the #2 heating oil to homes and businesses in New Jersey.