Actual
4.4957
Daily Change
-0.15 -3.15%
Monthly
-2.13%
Yearly
101.03%
Q4 Forecast
4.6945
Heating oil - Summary

US heating oil prices slipped below $4.50 per gallon on Friday, extending losses for the second session, as efforts to relieve a global fuel shortage raised hopes of improved availability. European Union members are discussing a proposal to release emergency oil and diesel reserves, following pressure from Washington to help stabilise prices and avoid restrictions on US fuel exports. Treasury Secretary Scott Bessent urged European partners to contribute, while President Donald Trump was less inclined to impose an export ban because of the risk of further domestic price increases. However, heating oil remains close to its mid-September record of $5.20 per gallon. In the US, EIA data showed distillate inventories at their lowest seasonal level on record. Supply has been constrained by disruptions in the Persian Gulf, Ukrainian attacks on Russian refineries and Moscow’s extension of its diesel-export restrictions through October.

Heating oil - Stats

Heating Oil fell to 4.49 USD/Gal on October 2, 2026, down 3.20% from the previous day. Over the past month, Heating Oil's price has fallen 2.18%, but it is still 100.93% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Heating oil reached an all time high of 5.86 in April of 2022. Heating oil - data, forecasts, historical chart - was last updated on October 2 of 2026.

Heating oil - Forecast

Heating Oil fell to 4.49 USD/Gal on October 2, 2026, down 3.20% from the previous day. Over the past month, Heating Oil's price has fallen 2.18%, but it is still 100.93% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Heating oil is expected to trade at 5.13 USD/GAL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 5.63 in 12 months time.



Price Day Month Year Date
Crude Oil 88.82 -4.048 -4.36% -2.71% 45.90% Oct/02
Brent 99.28 -3.031 -2.96% 3.94% 53.85% Oct/02
Natural gas 2.96 -0.0050 -0.17% 1.68% -10.89% Oct/02
Gasoline 3.26 -0.1473 -4.33% 3.84% 75.21% Oct/02
Heating Oil 4.50 -0.1463 -3.15% -2.13% 101.03% Oct/02
Ethanol 2.02 -0.0225 -1.10% -3.58% 5.75% Oct/01
Naphtha 828.92 34.18 4.30% 6.01% 55.54% Oct/01
Propane 0.90 0.02 2.02% 14.71% 32.03% Oct/01
Uranium 89.45 0 0% -0.06% 10.16% Oct/01
Methanol 3,850.00 152.00 4.11% 23.64% 76.04% Sep/30


Heating oil
Heating oil, also known as No. 2 fuel oil, is a key refined petroleum product used for residential heating, as well as a proxy for diesel and jet fuel markets. It represents a significant share of the output from a barrel of crude oil and plays an important role in both energy consumption and seasonal demand trends. Heating oil futures are traded on NYMEX and serve as a benchmark for distillate fuels, including diesel and jet fuel, which often trade in the physical market at a premium to futures prices. Each contract represents 42,000 gallons (equivalent to 1,000 barrels) and is based on delivery in New York Harbor, a principal trading and distribution hub for refined petroleum products. Heating oil prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
4.49 4.64 5.86 0.29 1980 - 2026 USD/GAL Daily

News Stream
Heating Oil Falls for 2nd Day
US heating oil prices slipped below $4.50 per gallon on Friday, extending losses for the second session, as efforts to relieve a global fuel shortage raised hopes of improved availability. European Union members are discussing a proposal to release emergency oil and diesel reserves, following pressure from Washington to help stabilise prices and avoid restrictions on US fuel exports. Treasury Secretary Scott Bessent urged European partners to contribute, while President Donald Trump was less inclined to impose an export ban because of the risk of further domestic price increases. However, heating oil remains close to its mid-September record of $5.20 per gallon. In the US, EIA data showed distillate inventories at their lowest seasonal level on record. Supply has been constrained by disruptions in the Persian Gulf, Ukrainian attacks on Russian refineries and Moscow’s extension of its diesel-export restrictions through October.
2026-10-02
Heating Oil Prices Ease
US heating oil prices eased below $4.60 per gallon after President Donald Trump appeared less inclined to restrict diesel exports, amid concerns that such a move could trigger another surge in fuel costs. The European Union is meanwhile discussing a coordinated response after Washington asked Germany and France to release emergency diesel reserves, while officials indicated that additional European supplies could reach the market. Despite the decline, prices remain close to the record $5.20 reached in mid-September. Refined-product markets remain under pressure even as Middle Eastern crude flows approach pre-war levels. Supply has been constrained by disruptions in the Persian Gulf, Ukrainian attacks on Russian refineries and Moscow’s extension of its diesel-export restrictions through October. China has also canceled some October fuel shipments as it prioritizes domestic demand. In the US, EIA data showed distillate inventories at their lowest seasonal level on record.
2026-10-01
Heating Oil Futures Extend Gains
US heating oil futures extended gains to around $4.70 per gallon, moving closer to the record $5.20 reached in mid-September, driven by tight distillate supplies ahead of the winter heating season. EIA data showed US distillate inventories fell by 2.3 million barrels in the week ended September 25, leaving stockpiles around 14% below the five-year average for this time of year. Global diesel markets also remained tight after Russia extended restrictions on most diesel exports through October, while disruptions to refining operations have further constrained supplies. Meanwhile, President Donald Trump signaled that his support for restricting diesel exports may be cooling amid concerns over unintended price increases, while Energy Secretary Chris Wright said the administration expected announcements soon from Europe on additional diesel supplies. The White House has also urged the EU to draw down emergency diesel inventories to help curb global prices.
2026-10-01