Heating oil prices get determined by the fuel terminals every business days at 6pm or by midnight after receiving the market prices, watching through commodity market.

Historical prices gets recorded by Governmental agencies and some associations, please check the date below provided from governmental agencies.

Historical heating oil Prices by State in dollars (Retail)

Years                     1992        1995        1998        2000        2004        2007        2010        2012        2014

New York                1                1              1.25           2             2.45         2.90           3              4              4.15

Connecticut           1                1             1.17          2              2.40        2.90           2.92         4              4.19    

Maine                    0.90        0.80         0.85         1.75          1.90        2.59           2.67       3.68         3.89

Massachusetts      1              1             1.15          2               1.70        2.50          2.70       3.90         3.97

Pennsylvania         1             0.90        0.90          1.78          1.38        2.40          2.10       3.70         3.65

Why Heating Oil Prices differ?

As we mentioned above Heating Oil Prices are traded at commodity market at today’s price as of July 22 Monday 2014 is $3.0125 which is terminal wholesale price to Heating Oil Companies. As it is free market terminals as actual product manufacturer are free to set their own prices. Below you will see one heating oil Company pricing as whole sale to Heating Oil Companies in Long Island.

Heating Oil Pricing In New York. (Suffolk County)

Base Wholesale Price:                    $   2.298113

Federal Tax:                                      $   0.243000

Federal LUST Tax:                           $   0.01000

Federal Oil Spill Tax:                       $ 0.001900

New York State PB Tax:                 $ 0.166500

New York State Prepaid Tax:       $ 0.210000

New York State Spill Tax:              $ 0.002920

New York State DMF Tax:             $0.080000

Total Heating Oil Terminal Rack Price:   $3.0125 Cost to Heating Oil Companies

From this point Retailer who is a Heating Oil Company sets their own pricing which is based on following factors plus profit

Quantity Ordered by Client

Delivery Distance

Sales Tax: %2.5 of Total Invoice

Cash / Credit Difference

Competition Factors

For instance posted #2Heating Oil Price as of 7/23/14 for  Long Island Heating Oil Company as follows:

50 Gallons to 100 Gallons:    $ 3.659

100 Gallons to 150 Gallons   $3.449

150- Gallons to 200 Gallons $ 3.259

200 Gallons to 300 Gallons    $3.149

300 Gallons and Over              $3.129

Some heating Oil Companies may be charging lower or higher.

I suggest home owners to shop around before calling in an order for instance; a Heating Oil Company might be charging more for your order than any new clients because they might be thinking that you are loyal and no way are you switching them. This is a typical behavior of any seller therefore shop smart and save.

There are also other factors as I explained in the chart homes leaving a quite distance to Refineries or Whole seller can pay as high as $1000 or more per season for heating Oil. Because of delivery charges

We do suggest home owners who live a quite distance from terminals to look for ways of getting cheaper deliveries by putting a group order and negotiate the price down.

Also try using cash or check for your Heating oil Delivery do not forget by using check or cash and gathering with your neighbors to put a large order can save you up to $0.75 meaning that you can save over thousand or more per season.