Energy
Heating oil (fuel oil #2), per gallon

The price of heating oil

A gallon of heating oil cost 53.3¢ in November 1978 and $5.92 in September 2026.

In Sep 2026 dollars it cost $2.67 in November 1978, so it is 122% more expensive now after inflation. The record is $5.97, in May 2022; the low was 53.3¢, in November 1978.

Download the data (CSV)See the BLS series
Nov 197853.3¢Sep 2026$5.92
$2.67

The Nov 1978 price in Sep 2026 dollars: what it cost then, in today’s money.

In one year
up 64.9%From $3.59 in Sep 2025
In ten years
up 179.1%From $2.12 in Sep 2016
Record high
$5.97May 2022
Record low
53.3¢November 1978

Heating oil, per gallon, every month since Nov 1978

Price at the timeIn Sep 2026 dollars
Heating oil (fuel oil #2): monthly U.S. average price, Nov 1978 to Sep 2026Two lines. The solid line over the yellow area is the price at the time, from 53.3¢ in November 1978 to $5.92 in September 2026. The dashed blue line is the same price in Sep 2026 dollars, from $2.67 to $5.92. Record high $5.97 in May 2022.$0.00$2.00$4.00$6.00$8.00198020002020$5.97, 2022$5.92Heating oil (fuel oil #2): monthly U.S. average price, Nov 1978 to Sep 2026Two lines. The solid line over the yellow area is the price at the time, from 53.3¢ in November 1978 to $5.92 in September 2026. The dashed blue line is the same price in Sep 2026 dollars, from $2.67 to $5.92. Record high $5.97 in May 2022.$0.00$1.00$2.00$3.00$4.00$5.00$6.00$7.00$8.0019801990200020102020Record $5.97, 2022$5.92Heating oil (fuel oil #2): monthly U.S. average price, Nov 1978 to Sep 2026Two lines. The solid line over the yellow area is the price at the time, from 53.3¢ in November 1978 to $5.92 in September 2026. The dashed blue line is the same price in Sep 2026 dollars, from $2.67 to $5.92. Record high $5.97 in May 2022.$0.00$1.00$2.00$3.00$4.00$5.00$6.00$7.00$8.001980198519901995200020052010201520202025Record $5.97, 2022$5.92

Solid line, yellow area: the average price in each month, in the dollars of that month. Dashed blue line: the same price restated in Sep 2026 dollars using the Consumer Price Index for all urban consumers (CPI-U). Where the dashed line falls, the item got cheaper compared with everything else. Months with no published price are left as gaps when they are long, and bridged when they are a single month. Hover, tap or use the arrow keys to read any month.

Source: U.S. Bureau of Labor Statistics, average price series APU000072511 (U.S. city average); CPI-U CUUR0000SA0.

A January in every decade

“Now vs then” is the plain change on the shelf. “After inflation” compares the old price in Sep 2026 dollars with today’s: negative means it takes less of today’s money than it did.

Heating oil (fuel oil #2): January prices in past decades compared with September 2026
MonthPrice thenIn today’s $Now vs thenAfter inflation
Jan 198092.9¢$4.02up 537.5%up 47.2%
Jan 1990$1.26$3.33up 370.4%up 77.8%
Jan 2000$1.19$2.37up 398.1%up 149.6%
Jan 2010$2.97$4.61up 99.6%up 28.3%
Jan 2020$3.05$3.99up 94.0%up 48.6%

Year by year

Averages of the monthly prices in each calendar year, newest first. Years with fewer than nine published months are left out; partial years are marked.

Heating oil (fuel oil #2): yearly average price
YearAveragevs year beforeLowest monthHighest month
20269 of 12 months$4.86up 34.3%$3.58 Jan$5.92 Sep
202511 of 12 months$3.62up 0.4%$3.43 May$3.83 Feb
2024$3.61down 6.1%$3.39 Sep$3.83 Feb
2023$3.84down 23.4%$3.40 Jun$4.31 Jan
2022$5.01up 66.8%$3.78 Jan$5.97 May
2021$3.01up 31.3%$2.55 Jan$3.51 Nov
2020$2.29down 23.3%$1.91 May$3.05 Jan
2019$2.98down 3.4%$2.87 Aug$3.10 Apr
2018$3.09up 26.3%$2.83 Mar$3.38 Oct
2017$2.45up 15.8%$2.21 Jul$2.70 Dec
Every year back to 1979
Heating oil (fuel oil #2): yearly average price
YearAveragevs year beforeLowest monthHighest month
2016$2.11down 18.8%$1.92 Feb$2.39 Dec
2015$2.60down 29.8%$2.11 Dec$3.02 Mar
2014$3.71down 0.3%$3.14 Dec$4.07 Feb
2013$3.72down 0.9%$3.57 Jun$3.96 Feb
2012$3.75up 1.1%$3.49 Jul$3.91 Mar
2011$3.71up 26.9%$3.42 Jan$3.98 Apr
2010$2.93up 16.4%$2.80 Jul$3.19 Dec
2009$2.51down 33.0%$2.32 Mar$2.79 Nov
2008$3.75up 40.0%$2.64 Dec$4.65 Jul
2007$2.68up 7.4%$2.37 Jan$3.25 Dec
2006$2.50up 12.4%$2.38 Nov$2.65 Aug
2005$2.22up 35.0%$1.86 Jan$2.63 Oct
2004$1.65up 17.5%$1.51 Jan$1.96 Nov
2003$1.40up 20.6%$1.28 Jul$1.77 Mar
2002$1.16down 11.3%$1.11 Feb$1.27 Dec
2001$1.31down 3.7%$1.12 Dec$1.51 Jan
2000$1.36up 51.2%$1.19 Jan$1.61 Feb
199990.0¢up 2.2%82.8¢ Feb$1.09 Dec
199888.0¢down 13.3%82.7¢ Sep96.6¢ Jan
1997$1.01down 0.5%94.5¢ Aug$1.14 Jan
1996$1.02up 14.1%93.4¢ Aug$1.12 Dec
199589.3¢down 2.5%87.0¢ Sep91.5¢ Feb
199491.6¢down 2.9%89.0¢ Oct97.8¢ Feb
199394.4¢down 1.8%90.6¢ Aug97.7¢ Mar
199296.1¢down 5.6%94.3¢ Aug98.5¢ Jan
1991$1.02down 6.4%92.6¢ Jul$1.24 Jan
1990$1.09up 22.5%88.0¢ Jul$1.33 Oct
198988.8¢up 4.9%84.6¢ Aug97.8¢ Dec
198884.6¢down 0.6%79.0¢ Oct89.0¢ Jan
198785.1¢up 2.0%81.7¢ Jan88.9¢ Dec
198683.5¢down 22.7%72.6¢ Aug$1.13 Jan
198511 of 12 months$1.08down 3.7%$1.02 Aug$1.14 Dec
1984$1.12up 1.7%$1.08 Sep$1.22 Feb
1983$1.10down 8.9%$1.07 Apr$1.19 Jan
1982$1.21down 3.0%$1.16 Apr$1.25 Jan
1981$1.25up 23.4%$1.15 Jan$1.29 Mar
1980$1.01up 38.7%92.9¢ Jan$1.07 Dec
197972.8¢—55.5¢ Jan88.3¢ Dec

About this number

  • What this number is. The average price BLS records for “Fuel oil #2 per gallon (3.785 liters)” across U.S. cities, collected for the Consumer Price Index. It is an average across many stores and brands, not a price at any one store.
  • No price for October 2025. BLS did not publish one: data unavailable due to the 2025 lapse in appropriations.
  • 1 other month without a price between Sep 1985 and Sep 1985. BLS publishes an average only when it has enough price quotes; the yearly table skips thin years.
  • Today’s dollars. Prices are restated in Sep 2026 dollars by multiplying by CPI-U for Sep 2026 (336.94) and dividing by CPI-U for the month in question.

Sources

Download CSV573 rows: month, price, and price in Sep 2026 dollars

More in Energy

7 itemsTable view