Heating Oil Prices

09-12-2025 - Over the past month, the price of heating oil has decreased from $2.4961 per gallon to $2.2982 per gallon, indicating a downward trend in the raw material market. This decline may be due to changes in supply, demand, or broader economic factors impacting heating oil prices. The forecast predicts a further decrease to $2.1721 per gallon, a 5.5% drop from the current price of $2.2982 per gallon, suggesting continued downward pressure. This trend is primarily driven by technical data, with a combined impact of -$0.0486 per gallon. Key influences include the Futures Curve, contributing -$0.0521 per gallon, and Calendar Effects, adding +$0.0182 per gallon, all pointing towards a consistent downward trend.

Recent market analyses support this forecast, indicating a potential decline in heating oil prices over the next month. For example, Trading Economics reported on November 26, 2025, that U.S. heating oil futures have continued their decline toward $2.31 per gallon, reaching one-month lows. This downturn is attributed to increased distillate inventories and reduced crude feedstock costs, suggesting a bearish outlook for heating oil prices in the near term. Overall, the market is experiencing downward price pressure on raw materials, with potential volatility affecting future prices.