Check our oil prices

Check out oil prices

The Heating Oil Service has delivered average savings of 39 cents per gallon over the past 3 years.

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Our low price isn't just a one-time deal!

orangeLine.pngour average member oil price

blueLine.pngMA or RI state average price

It’s hard not to notice the price of heating oil is as high as it’s been for most of the past four years. Back in 2014, we were coming off years of $3-$4 per gallon heating oil. That year our members ended up with some of the best savings in years. Prices actually made a run at $1.50 for some days during the 2014-‘15 heating season.

Today we’re hanging around $3.00 per gallon and many of us are noticing the price of gasoline is considerably less. Normally these products tend to follow along within a few cents of each other, with gasoline tending to be the more expensive of the two. That’s not the case on commodity futures markets today, with heating oil trading at 40-50 cents more per gallon than gasoline.

That wide of a spread is unprecedented. We believe it is somewhat due to the fact that heating oil has transitioned to 15 parts per million of sulfur, down from 300 earlier this year (and down from 3,000 earlier this century). That extra refinement takes a bit more money and effort to produce (obviously the sulfur goes somewhere and needs to be dealt with). Also in winter, gasoline production has lower costs for ethanol, which results in a small seasonal downward pressure on gas prices.

Those changes aside, we believe there may be a correction ahead that will bring the prices of gas and heating oil more in line with historical expectations. The guess then is whether gasoline will go up or heating oil will come down.

We expect prices to remain in the $3/gallon range for the season. The fact that the price at the end of October was less than it was at the month’s beginning is a good sign for lower prices throughout the winter. We don’t think we have a big shot at less than $2/gallon heating oil, but we’re starting to believe our members will not have to pay over $3.00 per gallon for their remaining deliveries this winter.

Meanwhile state surveys suggest most consumers are paying somewhere north of $3.10 per gallon on average, which we would expect to remain the case unless there is a huge sell-off. We expect we’ll continue to see a lot of $2.99 days for a while as we head into the early winter part of the heating season.

As of the November 13 statewide surveys, our average member savings compared to the average for all full-service dealers surveyed by the states were: 36.7 cents savings in Massachusetts and 33.5 cents savings in Rhode Island.

Massachusetts prices

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Average Prices for Green Energy Consumers in Massachusetts
for November 16, 2018

  • Average Billing 20/30 day = $2.806
  • Average Prompt 7-10 day = $2.745
  • Average COD = $2.739

How does our price compare? 

Massachusett's weekly price survey on Tuesday, November 13, 2018, was $3.25, with a high price of $4.50 and a low of $2.59. The average price for our members in Massachusetts that day was $2.883 for Billing; $2.815 for COD.

Rhode Island prices

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Average Prices for Green Energy Consumers in Rhode Island
for November 16, 2018

  • Average Billing 20/30 day = $2.718
  • Average Prompt 7-10 day = $2.653
  • Average COD = $2.624

How does our price compare?

Rhode Island's weekly price survey on Tuesday, November 13, 2018, was $3.14, with a high price of $3.95 and a low of $2.60. The average price for our members in Rhode Island that day was $2.805 for Billing; $2.708 for COD.

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