Rhode Island Heating Oil Price Trends
Updated on December 20, 2024 at 12:00 AM
| Time Horizon | Price Change |
|---|---|
| 1 Week Trend | +$0.033 |
| 1 Month Trend | +$0.046 |
| 1 Year Trend | -$0.242 |
Rhode Island Heating Oil Price History
Updated on December 20, 2024 at 12:00 AM
| Date | Average Oil Price |
|---|---|
| 12/20/2024 | $2.972 |
| 12/19/2024 | $2.972 |
| 12/18/2024 | $2.962 |
| 12/17/2024 | $2.914 |
| 12/16/2024 | $2.948 |
| 12/13/2024 | $2.939 |
| 12/12/2024 | $2.939 |
| 12/11/2024 | $2.939 |
| 12/10/2024 | $2.943 |
| 12/09/2024 | $2.942 |
| 12/06/2024 | $2.948 |
| 12/05/2024 | $2.948 |
| 12/04/2024 | $2.915 |
| 12/03/2024 | $2.887 |
| 12/02/2024 | $2.916 |
| 11/29/2024 | $2.906 |
| 11/28/2024 | $2.975 |
| 11/27/2024 | $2.975 |
| 11/26/2024 | $2.969 |
| 11/25/2024 | $2.981 |
| 11/22/2024 | $2.872 |
| 11/21/2024 | $2.854 |
| 11/20/2024 | $2.888 |
| 11/19/2024 | $2.926 |
| 11/18/2024 | $2.918 |
| 11/15/2024 | $2.847 |
| 11/14/2024 | $2.869 |
| 11/13/2024 | $2.827 |
| 11/12/2024 | $2.871 |
| 11/11/2024 | $2.866 |
Propane vs. Natural Gas vs. Heating Oil: Rhode Island Home Heating Fuel Comparison
Homeowners have a variety of home heating fuels to choose from. Natural gas is the most popular choice in Rhode Island, used by 238,730 or 54.33% of homes. The 2nd most popular choice for Rhode Island homeowners is heating oil, used by 123,513 homes (28.11%). The remaining homes are heated with electricity (48,608), propane (20,290), wood (6,261), and other fuels (5,741).
Rhode Island Primary Home Heating Fuel Popularity by Number of Households
| Fuel | Rhode Island Households | % of Households |
|---|---|---|
| Natural Gas | 238,730 | 54.3% |
| Heating Oil | 123,513 | 28.1% |
| Electricity | 48,608 | 11.1% |
| Propane | 20,290 | 4.6% |
| Wood | 6,261 | 1.4% |
| Other Fuels | 2,906 | 0.7% |
| No Fuel | 2,274 | 0.5% |
| Solar | 368 | 0.1% |
| Coal | 193 | 0.0% |
Natural gas (54.3%)
Heating oil (28.1%)
Electricity (11.1%)
Propane (4.6%)
Wood (1.4%)
Other fuels (0.7%)
No fuel (0.5%)
Solar (0.1%)
Coal (0.0%)
#2 Heating Oil (Fuel Oil) Use in Rhode Island
Heating oil has become more popular in Rhode Island. In the 2 years since 2020, the number of heating oil homes rose from 120,814 to 123,513, a 2.23% lift.
Rhode Island Heating Oil Households (2011 - 2022)
| Year | Heating Oil Households |
|---|---|
| 2011 | 157,027 |
| 2012 | 153,138 |
| 2013 | 147,428 |
| 2014 | 142,250 |
| 2015 | 137,072 |
| 2016 | 131,665 |
| 2017 | 128,463 |
| 2018 | 125,105 |
| 2019 | 122,253 |
| 2020 | 120,814 |
| 2021 | 122,016 |
| 2022 | 123,513 |
Propane vs. Natural Gas use for home heating in Rhode Island
Between 2020 and today, the number of homes using propane as the primary space heating fuel rose from 14,932 to 20,290.
Between 2020 and today, the number of homes using natural gas as the primary space heating fuel rose from 223,733 to 238,730.
Electricity use for home heating in Rhode Island
Electric space heating systems are becoming more popular in Rhode Island. Since 2020, the number of homes heating with electricity rose from 43,940 to 48,608, a 10.62% increase.
Solar use for home heating in Rhode Island
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, 368 homes in Rhode Island are heated with active solar arrays. This is a 50.82% increase from 2020, when only 244 homes had installed active solar heating.
Rhode Island Heating Oil Trends
Last year, Rhode Island homeowners purchased a total of 92 million gallons of heating oil.
Short Term Trends
Rhode 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 Rhode Island, the average outside temperature was 3.8° F warmer than the prior winter's average outside temperature.
Rhode Island Average Winter Temperature
| Heating Season | Average Temperature |
|---|---|
| 2024 - 2025 | 41.1° F |
| 2023 - 2024 | 37.3° F |
Rhode Island Homeowner’s Guide to Selecting an Oil Company
For Rhode Island homeowners heating with oil, selecting which of the 49 heating oil companies that serve Rhode 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 14 “full-service” oil companies that serve Rhode Island. Full service companies such as Dudek Oil or Wildcat Oil Co 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 Rhode 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 Rhode Island include Helger's United Oil Co and Anchor Fuel Oil Inc.
Rhode Island Heating Oil Company Fast Facts
Heating Oil Companies Serving Rhode Island: 49 companies
Average Number Of Rhode Island Homes Served Per Company: 2,526 homes
Average Gallons Delivered per Rhode Island Oil Company: 1,875,324 gallons per year
Rhode Island Heating Oil Delivery Overview
Approximately 123,513 households in Rhode Island heat their homes with fuel oil. This makes oil delivery essential, especially when Rhode Island temperatures drop as low as 42.5° F each winter.
28% of Rhode Island Households Rely On Heating Oil Delivery Each Winter
| Rhode Island Households | Rhode Island Heating Oil Households |
|---|---|
| 439,442 | 123,513 |
49 Rhode Island Oil Companies Go the Distance
With 92 million gallons of heating oil delivered to Rhode Island homeowners during the winter of 2023, the Rhode Island community relies on its 49 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 Rhode Island, two of the closest terminals are Shell in Providence, RI and Sprague in Providence, RI. Then, the truck delivers the #2 heating oil to homes and businesses in Rhode Island.
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