Heating Oil Prices

29-01-2026 - Over the past month, the price of heating oil has experienced a notable increase, climbing from $2.1275 per gallon to $2.6661 per gallon. This significant rise suggests potential shifts in the market or heightened demand for this raw material. However, the forecast anticipates a decrease in heating oil prices to $2.4907 per gallon, representing a 6.6% decline from the current $2.6661 per gallon. This projection indicates a downward trend, although there remains a risk of market volatility impacting raw material prices.

The forecast suggests downward pressure on raw material prices, primarily influenced by Flows data, which has a price impact of -$0.0383 per gallon. Within Flows, Exchange Rates and Seaborne Imports & Exports are the most significant factors, with all data types supporting this trend.

According to Trading Economics, as of January 27, 2026, heating oil prices stood at $2.62 per gallon, with an expected decrease to $2.51 per gallon by the end of the quarter. This projection is consistent with the forecast, which predicts a price decline to $2.4907 per gallon in the coming month. Overall, while recent price increases have been substantial, the outlook suggests a potential easing of prices in the near future.