What Are Home Heating Oil Prices Across the U.S.?
Heating oil prices vary widely across the U.S., and recent global tensions and supply concerns are adding new volatility. Here is what homeowners should know about current prices and what may come next.
Donna LeValley
Geopolitical tensions in the Middle East, including the war involving Iran, have pushed global oil prices higher and triggered spikes in home heating oil costs across parts of the U.S.
In some areas, prices jumped to around $5 per gallon within a week as energy markets reacted to supply fears and broader volatility.
The conflict has also raised concerns about potential disruptions to global oil supplies and shipping routes, which can quickly ripple through the fuel supply chain and affect consumer prices.
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Home heating oil prices: Spring trajectory
The current national average residential heating oil price is $4.460 per gallon as of March 9, 2026, according to the U.S. Energy Information Administration (EIA). That’s a sharp increase from about $3.60 per gallon in early February, highlighting how quickly energy markets can react to geopolitical tensions such as the conflict involving Iran.
While the heating season is beginning to wind down, much of the country is still experiencing cold weather heading into spring. Continued demand for heating fuel, combined with global supply concerns, could keep prices elevated or volatile in the weeks ahead.
Why are prices so high?
Home heating oil prices have fluctuated widely over the past decade. After falling to about $2.06 per gallon during the winter of 2015 to 2016, prices climbed to a national average of $5.902 in early November 2022, according to YCharts.
Although the heating season is beginning to wind down, many households still rely on heating oil through late winter and early spring. For households running low on fuel, a late season refill can come at a higher cost if prices spike.
Crude oil accounts for about 48% of the price of heating oil, meaning global events can quickly affect what homeowners pay. Conflicts involving major energy producers, including the war in Ukraine and tensions with Iran, have contributed to volatility in global oil markets and pushed fuel costs higher.
Certain U.S. states rely more heavily on heating oil than others, which affects regional prices. The northern Atlantic region, from Maryland up to Maine, relies more on heating oil than on natural gas to heat homes, exposing it more heavily to global oil price fluctuations.
Many of these northeastern states rely on decades-old heating oil tanks and infrastructure. Three-fifths of Maine households use oil as their primary energy source for home heating, a higher share than in any other state, according to Quartz. This dynamic is one reason residential energy costs are 15.4% higher in the northeast than the rest of the U.S., where energy prices have actually started to fall.
What comes next for prices?
The EIA expects U.S. household heating costs to remain elevated this spring due to supply chain disruptions and market volatility tied to conflicts involving Iran and Ukraine. Prices can be especially unpredictable in the Northeast, where limited refinery capacity, colder temperatures and concentrated demand make the region more sensitive to supply changes.
Even as much of the country begins to thaw from a brutally cold winter, higher fuel prices mean some homeowners could still face larger bills. In other words, households may use less heating oil as temperatures rise but still pay more because of elevated energy costs.
How much can you expect to pay throughout the spring? The EIA’s Short-Term Energy Outlook projects crude oil prices to remain around $95 per barrel over the next two months, suggesting heating oil prices could stay elevated in the near term.
Ways to manage and cut costs
To cut costs and save energy, all homeowners should strongly consider a home energy audit to reduce their monthly bills. Being more energy-efficient now will save you money overall and help you withstand future price increases.
If your heating oil bills are driving you round the bend, consider lowering your oil heater's temperature setting and making up the difference with a different type of heater. Please have a look at our deep dives on fan heaters vs. oil heaters and on electric heaters vs radiators.
For the latest on the direction of crude oil, gasoline and other fuels, see Kiplinger's Energy Prices Forecast.
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