The New York State Energy Research and Development Authority (NYSERDA) reports on the average heating oil prices every week (and bi-weekly April through August) through their “New York Home Heating Oil Price Monitoring Program“. Unfortunately it’s not clear how exactly they calculate the average price. It does say that it’s based on credit card as a payment method which is almost always higher than cash delivery pricing. Other than that it’s not clear if this price is based on some minimum number of gallons you can order.

nyserda home heating oil prices long islandThis is important because heating oil pricing can vary widely if you order 50 gallons or 500 gallons. For example 50 gallons of oil may cost $2.859/g while 500g may be $2.259/g. As you can see there is a 60 cents difference between the two prices. It’s also unclear how many suppliers they survey, and what percentage of all suppliers on Long Island those surveyed represent.

For the period of 05/11 to 05/25 NYSERDA is reporting that the average home heating oil price is $3.093/gallon for the Long Island area. Prices were relatively stable during this period so let’s take a look at some of the pricing for these two weeks directly from Long Island heating oil companies. And since NYSERDA is reporting on credit card prices we’ll stick to that as well to compare side by side.

Time period: 05/11/15 – 05/25/15
NYSERDA reported Average Heating Oil price for Long Island: $3.093/g

Actual credit card pricing direct from Long Island heating oil companies:

Domino Heating Oil:
Published price for 50g: $2.859/g
Published price for 500+g: $2.299/g
Average price: $2.579

Wise Choice Fuel:
Published price for 50g: $3.019/g
Published price for 500+g: $2.319/g
Average price: $2.669

All Island Fuel:
Published price for 50g: $2.859/g
Published price for 500+g: $2.329/g
Average price: $2.594

JC Discount Fuel Oil:
Published price for 50g: $3.229/g
Published price for 500+g: $2.319/g
Average price: $2.774

John’s Fuel Oil:
Published price for 50g: $2.789/g
Published price for 500+g: $2.309/g
Average price: $2.549

DW Cole Corp:
Published price for 50g: $2.759/g
Published price for 500+g: $2.329/g
Average price: $2.544

All County Fuel Oil:
Published price for 50g: $2.719/g
Published price for 500+g: $2.289/g
Average price: $2.504

As you can see the highest average price here is $2.774 per gallon, which is a long way from the reported $3.093. Even if we take into consideration only the highest pricing based on a 50 gallons order, we get an average of $2.89/g pricing from the above companies data which represent a good sample of suppliers serving the region.

In conclusion:

Time period: 05/11/15 – 05/25/15
Region: Long Island
Payment Method: Credit Card
NYSERDA reported Average Heating Oil price for Long Island: $3.093/g
Actual average oil price: $2.601
Average oil price based on 50g order: $2.89
Average oil price based on 500+g order: $2.313

There’s a significant difference between NYSERDA’s reported oil prices and the actual oil prices on Long Island. Oil prices on Long Island are significantly lower than reported by the New York State Energy Research and Development Authority. To view current oil prices in your area please visit the Check oil prices page and enter your zipcode.