Virginia Heating Oil Price Trends
Updated on July 30, 2024 at 12:00 AM
| Time Horizon | Price Change |
|---|---|
| 1 Week Trend | -$0.100 |
| 1 Month Trend | +$0.100 |
| 1 Year Trend | -$0.100 |
Virginia Heating Oil Price History
Updated on July 30, 2024 at 12:00 AM
| Date | Average Oil Price |
|---|---|
| 07/30/2024 | $3.199 |
| 07/29/2024 | $3.199 |
| 07/26/2024 | $3.199 |
| 07/25/2024 | $3.199 |
| 07/24/2024 | $3.299 |
| 07/23/2024 | $3.299 |
| 07/22/2024 | $3.299 |
| 07/19/2024 | $3.299 |
| 07/18/2024 | $3.299 |
| 07/17/2024 | $3.299 |
| 07/16/2024 | $3.299 |
| 07/15/2024 | $3.299 |
| 07/12/2024 | $3.249 |
| 07/11/2024 | $3.249 |
| 07/10/2024 | $3.249 |
| 07/09/2024 | $3.249 |
| 07/08/2024 | $3.199 |
| 07/05/2024 | $3.199 |
| 07/04/2024 | $3.199 |
| 07/03/2024 | $3.199 |
| 07/02/2024 | $3.199 |
| 07/01/2024 | $3.199 |
| 06/28/2024 | $3.199 |
| 06/27/2024 | $3.099 |
| 06/26/2024 | $3.099 |
| 06/25/2024 | $3.099 |
| 06/24/2024 | $3.099 |
| 06/13/2024 | $3.299 |
| 06/12/2024 | $3.299 |
| 06/11/2024 | $3.299 |
Propane vs. Natural Gas vs. Heating Oil: Virginia Home Heating Fuel Comparison
Homeowners have a variety of home heating fuels to choose from. Electricity is the most popular choice in Virginia, used by 1,887,993 or 56.72% of homes. The 2nd most popular choice for Virginia homeowners is natural gas, used by 1,101,616 homes (33.09%). The remaining homes are heated with propane (153,698), heating oil (129,907), wood (65,453), and other fuels (41,045).
Virginia Primary Home Heating Fuel Popularity by Number of Households
| Fuel | Virginia Households | % of Households |
|---|---|---|
| Electricity | 1.8M | 56.72% |
| Natural Gas | 1.1M | 33.09% |
| Propane | 153,698 | 4.62% |
| Heating Oil | 129,907 | 3.90% |
| Wood | 65,453 | 1.97% |
| No Fuel | 24,314 | 0.73% |
| Other Fuels | 12,489 | 0.38% |
| Solar | 2,751 | 0.08% |
| Coal | 1,491 | 0.04% |
Electricity (56.72)
Natural gas (33.09)
Propane (4.62)
Heating oil (3.90)
Wood (1.97)
No fuel (0.73)
Other fuels (0.38)
Solar (0.08)
Coal (0.04)
#2 Heating Oil (Fuel Oil) Use in Virginia
Heating oil has become less popular in Virginia. In the 4 years since 2018, the number of heating oil homes fell from 148,684 to 129,907, a 12.63% drop.
Virginia Heating Oil Households (2011 - 2022)
| Year | Heating Oil Households |
|---|---|
| 2011 | 228,988 |
| 2012 | 211,492 |
| 2013 | 195,333 |
| 2014 | 182,928 |
| 2015 | 171,696 |
| 2016 | 162,011 |
| 2017 | 154,885 |
| 2018 | 148,684 |
| 2019 | 141,997 |
| 2020 | 137,208 |
| 2021 | 128,923 |
| 2022 | 129,907 |
Propane vs. Natural Gas use for home heating in Virginia
Between 2018 and today, the number of homes using propane as the primary space heating fuel rose from 137,930 to 153,698.
Between 2018 and today, the number of homes using natural gas as the primary space heating fuel rose from 1,040,445 to 1,101,616.
Electricity use for home heating in Virginia
Electric space heating systems are becoming more popular in Virginia. Since 2018, the number of homes heating with electricity rose from 1,701,738 to 1,887,993, a 10.94% increase.
Solar use for home heating in Virginia
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, 2,751 homes in Virginia are heated with active solar arrays. This is a 200.98% increase from 2018, when only 914 homes had installed active solar heating.
Virginia Heating Oil Trends
Last year, Virginia homeowners purchased a total of 78 million gallons of heating oil.
Short Term Trends
Virginia’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 Virginia, the average outside temperature was 12.3° F warmer than the prior winter's average outside temperature.
Virginia Average Winter Temperature
| Heating Season | Average Temperature |
|---|---|
| Winter 2023 - 2024 | 59.8° F |
| Winter 2022 - 2023 | 47.5° F |
Virginia Homeowner’s Guide to Selecting an Oil Company
For Virginia homeowners heating with oil, selecting which of the 226 heating oil companies that serve Virginia 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 2 “full-service” oil companies that serve Virginia. Full service companies such as undefined or undefined 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 Virginia 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 Virginia include undefined and undefined.
Virginia Heating Oil Company Fast Facts
Heating Oil Companies Serving Virginia: 226 companies
Average Number Of Virginia Homes Served Per Company: 574 homes
Average Gallons Delivered per Virginia Oil Company: 347,176 gallons per year
Virginia Heating Oil Delivery Overview
Approximately 61,897 households in Virginia heat their homes with fuel oil. This makes oil delivery essential, especially when Virginia temperatures drop as low as 42.5° F each winter.
2% of Virginia Households Rely On Heating Oil Delivery Each Winter
| Virginia Households | Virginia Heating Oil Households |
|---|---|
| 2.2M | 61,897 |
226 Virginia Oil Companies Go the Distance
With 78 million gallons of heating oil delivered to Virginia homeowners during the winter of 2023, the Virginia community relies on its 226 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 Virginia, two of the closest terminals are 1st Enrgy in Richmond, VA and Kinder-m2 in Richmond, VA. Then, the truck delivers the #2 heating oil to homes and businesses in Virginia.
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