Cheapest Cash Heating Oil Prices

US Cash Heating oil prices

Heating oil prices have been on the up at the end of 2019 with the average heating oil price across 11 US states reaching $2.66 per gallon.

Below is a list of the average price per gallon across various states. Use the links to get the latest cheapest cash heating oil prices as well as the latest average price charts.

Maine	2.56
Pennsylvania	2.62
New Jersey	2.63
Rhode Island	2.65
Connecticut	2.66
New Hampshire	2.66
Massachusetts	2.68
Delaware	2.71
New York	2.72
Vermont	2.78
Maryland	2.85

This is the average cash price chart for heating oil delivered. It is not a stock market chart but what real home owners are likely to pay.

Cheapest Oil in New York, New Jersey, Pennsylvania, Massachusetts, Connecticut, Rhode Island, Maine

We're delighted to announce that we've just launched Cheapest Oil USA over at CheapestOil.com !

At the time of writing, we’ve accumulated 250 quotes updated daily for our launch across a variety of states and are due to add a lot more. It’s the same simple approach that has worked well in the UK and Ireland – no commissions, no sign ups, no gimmicks, just as many quotes as we can get our hands on presented freely to visitors. By not charging commission, we are in a great place to get you the cheapest prices for grade 2 heating oil.

We’re taking quotes for 3 different price bands – 150 gallons, 300 gallons and 500 gallons. We’re currently covering the following states: New York, New Jersey, Pennsylvania, Massachusetts, Connecticut, Rhode Island and Maine. We’re also adding on new suppliers all the time at a rapid rate so keep checking back for the best deals.

Check it out now for cheap heating oil prices USA. 

UK Heating oil price trends now on Amazon Alexa devices

https://www.amazon.co.uk/UK-Heating-oil-prices-trends/dp/B072LYVL1L/ref=sr_1_1

We've now got an Amazon Alexa skill where you can get the latest UK heating oil price trend (especially in Northern Ireland) from your Alexa device (e.g. Amazon Echo or Echo Dot)

Enable the skill here: https://www.amazon.co.uk/UK-Heating-oil-prices-trends/dp/B072LYVL1L/ref=sr_1_1

and then all you have to do is say:

"Alexa, Launch Cheapest Oil" for an update.

You can also ask for the average price of heating oil for any day, month, season or year since 2008! For example,

"Alexa, Ask Cheapest Oil what was the price of heating oil on December 1st"

"Alexa, Ask Cheapest Oil what was the price of heating oil in 2009"

"Alexa, Ask Cheapest Oil what is the price of 500 litres"

Of course, if you don't have an Alexa device, you can always get the latest price graphs here: https://www.cheapestoil.co.uk/articles/trend

Is heating oil cheapest in summer?

The most expensive heating oil has ever been (at the time of writing) is summer 2008 when it topped £600 for 900 litres. By that winter it had almost halved in price.
 
So if prices are not necessarily “cheapest” in summer, is there any merit in buying in summer? There is no doubt that during these quieter periods, oil distributors will sell at reduced margins that could mean saving one or two pence a litre. This is not insignificant and every penny reduction would save £9 when buying 900 litres. So during summer you have a better chance of getting the cheapest price.

However it is the global markets (be it in summer or winter) that have the greatest influence on how much you pay. Currency fluctuations are also very important. Oil distributor margins vary nothing like what is sometimes insinuated. Heating oil reached £600 in summer when crude oil reached highs of $147 a barrel, not because hundreds of oil distributors colluded together to make a killing.

Jump in the price of Home heating oil

Despite hopes that prices would remain steady this year, home heating oil prices have rocketed at the start of this week by an average of £15 (and by around £20 since last week).

For example, Emo Oil in Belfast have increased their price for 900 litres by over £40 in a week from £283.50 last Wednesday to £326.03 for 900 litres by the following Tuesday morning. Just about all suppliers surveyed by CheapestOil.co.uk have increased their prices with some increasing their prices every few hours.

This comes at the same time that crude oil as jumped to a 4 month high of around $54. On Friday, crude oil rose to over $50 for the first time this year. The increase is attributed to a stock market rally on news in the US of a plan to buy toxic assets and reports regarding an improving housing market.

Demand for oil is still considered to be weak with the price predicted to reach $60 per barrel this year.

Home Heating oil prices compared to crude oil prices

A question often asked is "why is home heating oil not the same price as it was when crude oil was this price?".

Such a question made headlines in NI (Northern Ireland) in late 2008.
There may be discrepancies but the biggest reason for the difference is in the exchange rates (as oil is priced in dollars).

In November 2007, $64 would have been just over £30. In November 2008, $64 would be around £40. This sort of difference alone would mean oil priced at £300 one year could cost £400 the following year.

If the price of crude oil remains steady and the pound gains strength against the dollar then there is no reason why we can't see even cheaper home heating oil.

For the UK, including Northern Ireland, the big question should not be how many dollars a barrel of oil is but how many pounds a barrel of oil is. Although the crude oil price has dropped quite a bit, consumers haven't got the full benefit of it because oil is priced in dollars and the pound has been weak recently against the dollar. For example, anything that cost US$45 would translate as £22 in the summer but cost £30 now so the exchange rates have been working against the price drops of oil.

However there is only so far it can go. Oil distributors would be quick to point out that they sell kerosene, not crude oil and that other cost factors need to be taken into consideration. If the price of a barrel of oil was free, that doesn't mean someone is going to get it refined into kerosene and deliver it to your house for free. There are costs that are going to be more static than the stock market prices.

We maintain a list of stock market versus home heating oil prices on our website.

About http://www.cheapestoil.co.uk/ : Since this is our first blog entry, here is a bit about ourselves. Cheapest Oil Limited operates http://www.cheapestoil.co.uk/ and http://www.cheapestoil.ie/ . The Cheapest Oil websites are independent home heating oil price comparison sites for Northern Ireland and the Republic of Ireland. Independent means that we are not affiliated with any distributor and so no commission is paid.