3 ms·

https://www.mass.gov/info-details/massachusetts-home-heating-fuels-prices https://www.mass.gov/info-details/massachusetts-home-heating... Heating oil (diesel)

https://www.mass.gov/info-details/massachusetts-home-heating-fuels-prices https://www.mass.gov/info-details/massachusetts-home-heating... Heating oil (diesel) is still 70% higher than last year. I'm about to delete the oil heat, so have been watching this.. I will certainly be annoyed if it crashes back to the $2s next week (right after the conversion..) https://www.eia.gov/dnav/ng/hist/n3010ma3m.htm https://www.eia.gov/dnav/ng/hist/n3010ma3m.htm https://fred.stlouisfed.org/series/APUS11A72610 https://fred.stlouisfed.org/series/APUS11A72610 BTW, this site allows you to compare the different heating costs: you have to enter the current prices: https://www.amsenergy.com/fuel-cost-calculator/ https://www.amsenergy.com/fuel-cost-calculator/ $35.78 oil $24.94 gas $79.13 electricity resistance (100%) $39.57 electricity heat pump (200%) (per million BTUs output from heater)

Retric 4y ago
2020, 2021, and 2022 oil prices have been a cause of rather than a result of inflation. It dropped from 2$ in 2019 to a low of 0.70$ in 2020, then hit a high of 4.40 in 2022 and just dropped to 3.30.
roflyear 4y ago
Oil heat can be tough, but the prices will go down. I would not change things just as a reaction to these prices...
- jhallenworld 4y ago
  There are other reasons: the boiler is from the 1940s (59% efficiency) and the oil tank is at least 30 years old. It's not pretty if the oil tank leaks... https://www.youtube.com/watch?v=djpH8pUSpjM https://www.youtube.com/watch?v=djpH8pUSpjM
  - squeaky-clean 4y ago
    My building had a boiler fire in December with an ancient oil based boiler. Everyone's okay, but it was not fun.
  - roflyear 4y ago
    Sounds paranoid. Is your tank indoors? It'll probably outlast you.
    - jhallenworld 4y ago
      It is indoors, you might be right. The tank might also be from the 1940s for all I know. In Canada, you are supposed to replace the tank every 10 years. The last time oil was this high, the heating bill was $3800 for the year. At that price the decision is easy. What could happen is we go into more competition for our natural gas with Europe this winter. For sure the price would be much higher. Luckily (for USA consumers) that the Freeport LNG terminal is off-line.. Oh well foo, they soon will be back on line: https://www.reuters.com/markets/commodities/us-regulator-allow-freeport-lng-resume-partial-operations-october-2022-08-03/ https://www.reuters.com/markets/commodities/us-regulator-all...
Dork1234 4y ago
Heat pumps are 2 to 4 times more efficient, and if you are in MA you can get upto a $10,000 rebate and 0% loan when purchasing a heatpump. Why would you stick with oil heat? Even if it drops to $2 it will be much cheaper to have a heatpump.
- ones_and_zeros 4y ago
  In MA you are paying through the nose on labor to install though. That rebate evaporates pretty quickly, still a 5 figure job.
  - sbradford26 4y ago
    I am in southern NH and recently went to a cold weather heat pump system. We had an oil boiler before hand so I had all new duct work added in the basement with an air handler and 3 mini split heads in the rooms upstairs. I got quotes for mitsubishi systems ranging from 31k to 39K. Ended up going with an LG Red system for 19k. I then installed an heat pump water heat myself so am now fully off of heating oil and it is great.
  - jhallenworld 4y ago
    Yup, I got a quote for $30K for heat pump vs. $14K to convert oil to gas. Also the rebate depends on also insulating your house.. which is a good idea in all cases, but not cheap either.
  - deleted 4y ago
    [deleted]
- bombcar 4y ago
  As others mentioned, heat pump is pricy, especially if you are in an area where you have to go real deep (geothermal) or need gas backup anyway. Whereas replacing the furnace and AC was a $9k job and there were some rebates for that, too. Electric bill is already down, and gas should be down a bit.

Retric 4y ago

2020, 2021, and 2022 oil prices have been a cause of rather than a result of inflation. It dropped from 2$ in 2019 to a low of 0.70$ in 2020, then hit a high of 4.40 in 2022 and just dropped to 3.30.

roflyear 4y ago

Oil heat can be tough, but the prices will go down. I would not change things just as a reaction to these prices...

jhallenworld 4y ago
There are other reasons: the boiler is from the 1940s (59% efficiency) and the oil tank is at least 30 years old. It's not pretty if the oil tank leaks... https://www.youtube.com/watch?v=djpH8pUSpjM https://www.youtube.com/watch?v=djpH8pUSpjM
- squeaky-clean 4y ago
  My building had a boiler fire in December with an ancient oil based boiler. Everyone's okay, but it was not fun.
- roflyear 4y ago
  Sounds paranoid. Is your tank indoors? It'll probably outlast you.
  - jhallenworld 4y ago
    It is indoors, you might be right. The tank might also be from the 1940s for all I know. In Canada, you are supposed to replace the tank every 10 years. The last time oil was this high, the heating bill was $3800 for the year. At that price the decision is easy. What could happen is we go into more competition for our natural gas with Europe this winter. For sure the price would be much higher. Luckily (for USA consumers) that the Freeport LNG terminal is off-line.. Oh well foo, they soon will be back on line: https://www.reuters.com/markets/commodities/us-regulator-allow-freeport-lng-resume-partial-operations-october-2022-08-03/ https://www.reuters.com/markets/commodities/us-regulator-all...

Dork1234 4y ago

Heat pumps are 2 to 4 times more efficient, and if you are in MA you can get upto a $10,000 rebate and 0% loan when purchasing a heatpump. Why would you stick with oil heat? Even if it drops to $2 it will be much cheaper to have a heatpump.

ones_and_zeros 4y ago
In MA you are paying through the nose on labor to install though. That rebate evaporates pretty quickly, still a 5 figure job.
- sbradford26 4y ago
  I am in southern NH and recently went to a cold weather heat pump system. We had an oil boiler before hand so I had all new duct work added in the basement with an air handler and 3 mini split heads in the rooms upstairs. I got quotes for mitsubishi systems ranging from 31k to 39K. Ended up going with an LG Red system for 19k. I then installed an heat pump water heat myself so am now fully off of heating oil and it is great.
- jhallenworld 4y ago
  Yup, I got a quote for $30K for heat pump vs. $14K to convert oil to gas. Also the rebate depends on also insulating your house.. which is a good idea in all cases, but not cheap either.
- deleted 4y ago
  [deleted]
bombcar 4y ago
As others mentioned, heat pump is pricy, especially if you are in an area where you have to go real deep (geothermal) or need gas backup anyway. Whereas replacing the furnace and AC was a $9k job and there were some rebates for that, too. Electric bill is already down, and gas should be down a bit.