Regan Brown
The price of fuel oil in New York depends on various factors, including location and season. For instance, B5 heating oil, which contains 5% biodiesel, is required for Downstate New York, including Nassau, Suffolk, NYC, and Westchester counties. The New York State Energy Research and Development Authority (NYSERDA) provides a Heating Fuel Prices Dashboard that offers objective information on residential retail heating fuel pricing in New York State and by region. This dashboard helps keep consumers informed of price trends throughout the year, including during critical winter months when heating oil demand is typically higher. Additionally, external factors such as inventory levels, supply chain dynamics, and geopolitical events like sanctions and tariff deals can influence fuel oil prices in New York.
| Characteristics | Values |
|---|---|
| Location | New York State Regions: Long Island, New York City, Lower Hudson, Upper Hudson |
| Data Availability | Weekly from September to March, twice a month from April to August |
| Contact for Energy Price Inquiries | Brad Leach at [email protected], or 518-862-1090, ext. 3364 |
| Data Source | The Heating Fuel Prices Dashboard |
| Data Coverage | Current and historical residential retail price data, regional comparison, fuel type comparisons for heating oil, kerosene, and propane |
| Data Update Schedule | Overnight from Wednesday to Thursday, with adjustments for Monday holidays |
| Specific Fuel Requirements | B5 heating oil, which contains 5% biodiesel, is required for Downstate New York, including Nassau, Suffolk, NYC, and Westchester counties |
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What You'll Learn
New York State Regions: Long Island, NYC, Lower Hudson, Upper Hudson
Fuel oil prices in New York vary across the state's different regions. NYSERDA provides an online dashboard that offers objective information on residential retail heating fuel pricing in New York State and by region. This includes data on current and historical prices, regional comparisons, and fuel type comparisons for heating oil, kerosene, and propane.
Long Island, which includes Nassau and Suffolk, had an average heating oil price of around $3 per gallon at the start of the heating season in October 2020, which was 6% less than the previous year.
New York City, encompassing Bronx, Kings, New York, Queens, and Richmond, may have similar pricing to Long Island, as both regions require B5 heating oil, which contains 5% biodiesel.
The Lower Hudson region, including Dutchess, Putnam, Rockland, and Westchester, likely has similar fuel oil prices to its neighbouring regions.
The Upper Hudson region, including Columbia, Greene, Orange, Sullivan, and Ulster, also had an average heating oil price of about $3 per gallon in October 2020. This price may be slightly lower than the statewide average, as discount delivery companies are included in the statewide data.
Additionally, organisations like the NYPIRG Fuel Buyers Group offer significant cost savings on fuel purchases. Their member prices are tied directly to the wholesale market, ensuring that members always pay the correct price as it fluctuates.
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B5 heating oil: required for Downstate New York
B5 heating oil, which contains 5% biodiesel, is required for Downstate New York, including Nassau, Suffolk, NYC, and Westchester counties. This is because, on September 13, 2017, New York Governor Andrew Cuomo signed Senate Bill 5422A, which became Chapter 315 of the Laws of 2017. This legislation requires that, "on and after July 1, 2018, all heating oil sold for use in any building within the counties of Nassau, Suffolk, and Westchester shall be bioheating fuel that contains at least five percent biodiesel." This law standardizes B5 Bioheat® fuel across the entire downstate region, which accounts for approximately 70% of all heating oil sales in the state and represents the largest heating oil market in the country.
The use of biofuel and the switch to ultra-low sulfur heating oil are leading to a cleaner and more sustainable future for New York. With these fuel modifications, customers can reduce their carbon footprints without changing any of their equipment. Bioheat® fuel is derived from plants and food byproducts and is blended with traditional Oilheat to create a renewable and environmentally friendly source of energy. Oil-fired heating systems can use Bioheat® fuel without any modifications, and the emissions are cleaner.
In addition to the environmental benefits, there are also economic advantages to using Bioheat® fuel. The raw materials for Bioheat® fuel come from the United States, Canada, and other petroleum-producing countries and are processed in domestic refineries. This makes supply disruptions unlikely, as the U.S. maintains the world's largest reserve supply: the 727 million barrel Strategic Petroleum Reserve, as well as one million barrels of heating oil in reserve. Furthermore, New York State offers tax credits as an incentive to use Bioheat® fuel. Residents who use blends of B6 (6% biodiesel) or higher can claim a direct income tax credit of up to 20 cents for every gallon they buy – one cent for each percentage point of biodiesel in their heating oil (up to B20).
Looking to the future, as of July 1, 2025, all heating oil sold in New York State must contain at least 10% biodiesel fuel (B10). This will be followed by an increase to B20 Bioheat® fuel by 2030, bringing the state closer to its net-zero emissions goal by 2040. Many regional heating oil dealers are already delivering Bioheat® fuel blended with up to 20% renewable biodiesel, and customers using these higher blends are entitled to a New York State Clean Heating Fuel tax credit.
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No. 2 Heating Oil Prices: New York Harbor
The price of No. 2 Heating Oil in New York Harbor is influenced by various factors and can vary over time. The U.S. Energy Information Administration provides data on the prices of No. 2 Heating Oil in New York Harbor, which can be accessed through the Federal Reserve Bank of St. Louis' FRED database. This data includes information on both annual and monthly price fluctuations, offering insights into the market dynamics of heating oil in this specific region.
Analyzing the price trends and expectations for No. 2 Heating Oil in New York Harbor is essential for market participants. The CME Group, a leading derivatives marketplace, offers tools like the CME Group Volatility Index (CVOLTM) to track forward-looking risk expectations. This index measures the 30-day implied volatility derived from options on NY Harbor ULSD futures, helping traders and investors make informed decisions.
Additionally, the CME Group provides insights into the probabilities of outcomes from OPEC meetings and offers settlement value analyses for its options products. Analyzing open interest and interest change patterns also contributes to a comprehensive understanding of the market. These tools empower market participants to stay abreast of dynamic conditions and make strategic choices regarding No. 2 Heating Oil in New York Harbor.
The availability of data and analytical tools enables stakeholders to assess the market conditions and make data-driven choices. By considering historical price trends and future expectations, traders and investors can manage their risks effectively. The CME Group's products and resources support market participants in navigating the complexities of the energy market, particularly in the context of No. 2 Heating Oil in New York Harbor.
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Average home heating oil prices
The price of fuel oil in New York State varies across regions and is dependent on the type of fuel oil. The New York State Energy Research and Development Authority (NYSERDA) provides an online dashboard called the Heating Fuel Prices Dashboard, which offers objective information on residential retail heating fuel pricing by region and fuel type. This includes current and historical price data, regional comparisons, and fuel type comparisons for heating oil, kerosene, and propane.
Dealers are surveyed weekly from September through March, and twice a month from April through August. The data is updated overnight from Wednesday into Thursday, with a slight delay if there is a Monday state holiday.
The NYSERDA website breaks down the state into several regions: Long Island (Nassau and Suffolk), New York City (Bronx, Kings, New York, Queens, and Richmond), Lower Hudson (Dutchess, Putnam, Rockland, and Westchester), Upper Hudson (Columbia, Greene, and Orleans), and so on. By referring to the Heating Fuel Prices Dashboard, consumers can find the specific pricing for their region and fuel type.
Additionally, it's worth noting that B5 heating oil, which contains 5% biodiesel, is mandated for Downstate New York, encompassing Nassau, Suffolk, NYC, and Westchester counties.
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Historical data on fuel prices
The New York State Energy Research and Development Authority (NYSERDA) provides New York residents and businesses with information on residential retail heating fuel pricing in New York State and by region. The data is obtained through surveys conducted by NYSERDA staff on a weekly basis during the heating season (September to March) and bi-weekly during the rest of the year. The Heating Fuel Prices Dashboard includes current and historical residential retail price data, regional comparisons, and fuel type comparisons for heating oil, kerosene, and propane.
The dashboard helps keep consumers informed of residential retail heating fuel price trends in their area throughout the year, including during the critical winter months. The historical data on the dashboard begins from September 8, 1997.
New York State is divided into several regions for the purpose of tracking and analyzing fuel prices. These regions include Long Island (Nassau and Suffolk), New York City (Bronx, Kings, New York, Queens, and Richmond), Lower Hudson (Dutchess, Putnam, Rockland, and Westchester), Upper Hudson (Columbia, Greene, Orange, Sullivan, and Ulster), Capital District (Albany, Fulton, Montgomery, Rensselaer, Saratoga, Schenectady, Schoharie, and Washington), and North Country (Clinton, Essex, Franklin, Hamilton, Jefferson, Lewis, St. Lawrence).
By providing access to historical data and regional comparisons, the NYSERDA dashboard empowers consumers to make informed decisions about their heating fuel choices and stay updated on price trends in their respective regions.
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Frequently asked questions
The price of fuel oil in New York State varies by region and county. The price also depends on the type of fuel oil.
The price of No. 2 Heating Oil in New York Harbour is available but it is unclear what the price per unit is.
B5 heating oil contains 5% biodiesel and is required for Downstate New York, including Nassau, Suffolk, NYC, and Westchester counties. The price is not readily available.
The Heating Fuel Prices Dashboard provides New York residents and businesses with objective information on residential retail heating fuel pricing by region and fuel type.
For energy price inquiries, you can contact Brad Leach at NYSERDA:
