Updated Today at 12:00 AM
Time Horizon | Price Change |
---|---|
1 Day Trend | +$0.007 |
1 Week Trend | -$0.010 |
1 Month Trend | +$0.120 |
1 Year Trend | -$0.176 |
Updated Today at 12:00 AM
Date | Average Oil Price |
---|---|
10/31/2024 | $3.096 |
10/30/2024 | $3.089 |
10/29/2024 | $3.088 |
10/28/2024 | $3.087 |
10/25/2024 | $3.104 |
10/24/2024 | $3.105 |
10/23/2024 | $3.106 |
10/22/2024 | $3.110 |
10/21/2024 | $3.115 |
10/18/2024 | $3.122 |
10/17/2024 | $3.124 |
10/16/2024 | $3.134 |
10/15/2024 | $3.130 |
10/14/2024 | $3.130 |
10/11/2024 | $3.131 |
10/10/2024 | $3.129 |
10/09/2024 | $3.128 |
10/08/2024 | $3.066 |
10/07/2024 | $3.062 |
10/04/2024 | $3.077 |
10/03/2024 | $3.036 |
10/02/2024 | $2.956 |
10/01/2024 | $2.976 |
09/30/2024 | $2.976 |
09/27/2024 | $2.980 |
09/26/2024 | $2.990 |
09/25/2024 | $3.016 |
09/24/2024 | $3.016 |
09/23/2024 | $3.017 |
09/20/2024 | $3.017 |
Homeowners have a variety of home heating fuels to choose from. Natural gas is the most popular choice in New York, used by 4,593,346 or 59.99% of homes. The 2nd most popular choice for New York homeowners is heating oil, used by 1,379,410 homes (18.02%). The remaining homes are heated with electricity (1,040,155), propane (371,184), no fuel (127,077), and other fuels (245,918).
New York Primary Home Heating Fuel Popularity by Number of Households
Fuel | New York Households | % of Households |
---|---|---|
Natural Gas | 4.5M | 59.99% |
Heating Oil | 1.3M | 18.02% |
Electricity | 1.0M | 13.59% |
Propane | 371,184 | 4.85% |
No Fuel | 127,077 | 1.66% |
Wood | 117,324 | 1.53% |
Other Fuels | 102,644 | 1.34% |
Coal | 17,488 | 0.23% |
Solar | 8,462 | 0.11% |
Natural gas (59.99)
Heating oil (18.02)
Electricity (13.59)
Propane (4.85)
No fuel (1.66)
Wood (1.53)
Other fuels (1.34)
Coal (0.23)
Solar (0.11)
Heating oil has become less popular in New York. In the 11 years since 2011, the number of heating oil homes fell from 2,173,711 to 1,379,410, a 36.54% drop.
New York Heating Oil Households (2011 - 2022)
Year | Heating Oil Households |
---|---|
2011 | 2.1M |
2012 | 2.0M |
2013 | 1.9M |
2014 | 1.9M |
2015 | 1.8M |
2016 | 1.7M |
2017 | 1.6M |
2018 | 1.5M |
2019 | 1.5M |
2020 | 1.4M |
2021 | 1.4M |
2022 | 1.3M |
Between 2011 and today, the number of homes using propane as the primary space heating fuel rose from 224,689 to 371,184.
Between 2011 and today, the number of homes using natural gas as the primary space heating fuel rose from 3,908,626 to 4,593,346.
Electric space heating systems are becoming more popular in New York. Since 2011, the number of homes heating with electricity rose from 653,872 to 1,040,155, a 59.08% 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, 8,462 homes in New York are heated with active solar arrays. This is a 403.69% increase from 2011, when only 1,680 homes had installed active solar heating.
Last year, New York homeowners purchased a total of 665 million gallons of heating oil.
Short Term Trends
New York’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 York, the average outside temperature was 11.7° F colder than the prior winter's average outside temperature.
New York Average Winter Temperature
Heating Season | Average Temperature |
---|---|
Winter 2023 - 2024 | 46.6° F |
Winter 2022 - 2023 | 58.3° F |
For New York homeowners heating with oil, selecting which of the 642 heating oil companies that serve New York 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 290 “full-service” oil companies that serve New York. Full service companies such as Sunshine Oil & Fuels Inc or Erichsen's Fuel Service Inc Dependable Energy Services 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 York 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 York include Aero Star Petroleum Inc and Upstate Energy Inc.
New York Heating Oil Company Fast Facts
Heating Oil Companies Serving New York: 642 companies
Average Number Of New York Homes Served Per Company: 2,148 homes
Average Gallons Delivered per New York Oil Company: 1,035,434 gallons per year
Approximately 1,364,622 households in New York heat their homes with fuel oil. This makes oil delivery essential, especially when New York temperatures drop as low as 42.5° F each winter.
18% of New York Households Rely On Heating Oil Delivery Each Winter
New York Households | New York Heating Oil Households |
---|---|
7.5M | 1.3M |
642 New York Oil Companies Go the Distance
With 665 million gallons of heating oil delivered to New York homeowners during the winter of 2023, the New York community relies on its 642 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 York, 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 New York.