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Heating oil prices ??? #5242451 10/17/19 01:33 PM
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BAJA_05 Offline OP
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Starting to get chilly/damp here at nites in my area. Called my oil man this morning to order heating oil -- $2.37 a gallon right now. Has been climbing here the last couple weeks he said -- which is to be expected. What are you other BITOG ers paying at the moment?


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Re: Heating oil prices ??? [Re: BAJA_05] #5242462 10/17/19 01:56 PM
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madRiver Offline
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Around $2.50/gallon +/- $0.10 around here in Coastal NH. All our local oil comes from Canada/Irving ships I believe.

Re: Heating oil prices ??? [Re: BAJA_05] #5242471 10/17/19 02:15 PM
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dareo Offline
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Just curious; how much more expensive is this than natural gas at say $5.61 a dekatherm?


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Re: Heating oil prices ??? [Re: BAJA_05] #5242503 10/17/19 03:05 PM
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Here in NW NJ I paid $2.45/gal on 9/6 and I see it's now $2.54/gal. I remember paying around $4.00/gal some years ago, that was painful crzy. Where I live it's either oil or propane, which has been more expensive than oil for years. They are just beginning to install natural gas lines where I live.

Whimsey

Re: Heating oil prices ??? [Re: BAJA_05] #5242505 10/17/19 03:12 PM
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PimTac Offline
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Every year at this time the east coasters talk about heating oil. Us on the west coast stopped using oil decades ago.

It’s interesting how old habits hang on in certain parts of the country.


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Re: Heating oil prices ??? [Re: PimTac] #5242519 10/17/19 03:39 PM
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skyactiv Offline
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Originally Posted by PimTac
Every year at this time the east coasters talk about heating oil. Us on the west coast stopped using oil decades ago.

It’s interesting how old habits hang on in certain parts of the country.


My guess is that Pennsylvania crude was close by, heating oil was cheap back in the day and the densely populated Northeast makes installing gas lines in old neighborhoods very costly.
Oil furnaces are very reliable.


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Re: Heating oil prices ??? [Re: dareo] #5242521 10/17/19 03:40 PM
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Originally Posted by dareo
Just curious; how much more expensive is this than natural gas at say $5.61 a dekatherm?


It's hard to compare just the price per 1000 BTU of each fuel. Gas can modulate the flame and oil cannot. Most people with oil heat have no access to natural gas. It's a choice of oil or propane.

Where I live people who have an oil furnace or oil boiler when it needs replacement go with propane.


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Re: Heating oil prices ??? [Re: PimTac] #5242523 10/17/19 03:41 PM
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supton Offline
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Originally Posted by PimTac
Every year at this time the east coasters talk about heating oil. Us on the west coast stopped using oil decades ago.

It’s interesting how old habits hang on in certain parts of the country.

If my furnace were to die, I'd switch. Unfortunately each of the houses I've bought were oil heated, and I never bothered to see how long it'd take to pay off converting. My current house had its furnace put in about 20 years ago; the other house had its oil furnace done in 1995. I suspect oil prices were much lower back then.


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Re: Heating oil prices ??? [Re: skyactiv] #5242525 10/17/19 03:43 PM
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supton Offline
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Originally Posted by skyactiv
Originally Posted by PimTac
Every year at this time the east coasters talk about heating oil. Us on the west coast stopped using oil decades ago.

It’s interesting how old habits hang on in certain parts of the country.


My guess is that Pennsylvania crude was close by, heating oil was cheap back in the day and the densely populated Northeast makes installing gas lines in old neighborhoods very costly.
Oil furnaces are very reliable and do a great job heating a home.

Why run lines? Just have a delivery truck make some rounds.

I wonder if some people today don't like having the tank outside, it can be an eyesore. Me, I don't like the notion of having an oil tank in the basement (it's not a big deal, not until it springs a leak that is), but for some, they might prefer that over an external tank.


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Re: Heating oil prices ??? [Re: dareo] #5242529 10/17/19 03:49 PM
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Burt Offline
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Originally Posted by dareo
Just curious; how much more expensive is this than natural gas at say $5.61 a dekatherm?


I worked in the marketing department of an oil company. We would multiply the natural gas price in dekatherm by 6 to get $/barrel equivalent and then divide by 42 to get gallon equivalent on a btu basis. This was based on btu/gallon of WTI crude. The btu's in WTI vs distillate are very close.


So $5.61 x 6 / 42 =$0.80 per gallon equivalent.


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Re: Heating oil prices ??? [Re: Burt] #5242542 10/17/19 04:12 PM
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dareo Offline
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Originally Posted by Burt
Originally Posted by dareo
Just curious; how much more expensive is this than natural gas at say $5.61 a dekatherm?


I worked in the marketing department of an oil company. We would multiply the natural gas price in dekatherm by 6 to get $/barrel equivalent and then divide by 42 to get gallon equivalent on a btu basis. This was based on btu/gallon of WTI crude. The btu's in WTI vs distillate are very close.


So $5.61 x 6 / 42 =$0.80 per gallon equivalent.


So its roughly 3x more expensive if you have to run oil heat? My condolences those without natural gas infrastructures.


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Re: Heating oil prices ??? [Re: PimTac] #5242561 10/17/19 04:36 PM
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eljefino Offline
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Originally Posted by PimTac
Every year at this time the east coasters talk about heating oil. Us on the west coast stopped using oil decades ago.

It’s interesting how old habits hang on in certain parts of the country.


It's not a habit, it's how the infrastructure is in place. Liquid oil travels quite nicely where it's impractical to bury gas lines. Compressing tanks of natural gas or propane is more of a hassle and more expensive.

Re: Heating oil prices ??? [Re: BAJA_05] #5242571 10/17/19 04:49 PM
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BigCahuna Offline
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I heated my house with oil for 40 years. Towards the end of my oil burners time, our heating bills would go up every delivery. So our season's oil bill would run from between $1900- $2400 , depending on how cold the winter was and the price per gallon. 2 years ago the boiler gave it up and needed to be replaced. We shopped around for prices and there was a big difference between the 5 estimates we got. So we picked one and had a new Gas boiler installed. it cost less then 10k soup to nuts. Our heat bills dropped big time. We now keep the house thermostat set higher then we did with oil, and last seasons heating bill was $700. I would never go back to oil, or replace a broke oil furnace with another oil furnace.,,,

Last edited by BigCahuna; 10/17/19 04:50 PM.
Re: Heating oil prices ??? [Re: BAJA_05] #5242615 10/17/19 05:42 PM
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Audios Offline
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Just paid 2.30/gallon this morning for 125 gallons to top off the tank before it rises. Diesel is about 3$ near me so I would expect a jump within the next few weeks. I also ran an anti gel additive since its an outdoor tank.


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Re: Heating oil prices ??? [Re: BAJA_05] #5242627 10/17/19 05:56 PM
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Oil is higher than natural gas mostly due to delivery method but also availability. Pipe is cheap after you get past installation costs.


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