Price of a gallon of heating oil by year, 1980–2025
A gallon of heating oil cost $1.01 on average in 1980 and $3.62 in 2025, according to the U.S. Bureau of Labor Statistics. Its sharpest one-year jump came in 2022, when the average rose 66% from 2021. The price rose 258% over those years while prices in general rose 291%, so, measured in 2025 dollars, it cost 8% less in 2025 than in 1980.
- Average in 1980
- $1.01
- Average in 2025
- $3.62
- Highest year, 2022
- $5.01
- Biggest one-year rise, 2022
- +66%
- Against inflation
- Trailed it by 8%
Every year
The table lists all 46 years with data, from 1980 to 2025. Select a year to see what everything else cost that year.
| Year | Average price | In 2025 dollars | Change from year before |
|---|---|---|---|
| 1980 | $1.01 | $3.95 | — |
| 1981 | $1.25 | $4.43 | +24% |
| 1982 | $1.21 | $4.04 | −3% |
| 1983 | $1.10 | $3.56 | −9% |
| 1984 | $1.12 | $3.47 | +2% |
| 1985 | $1.08 | $3.23 | −4% |
| 1986 | $0.835 | $2.45 | −23% |
| 1987 | $0.851 | $2.41 | +2% |
| 1988 | $0.846 | $2.30 | −1% |
| 1989 | $0.888 | $2.31 | +5% |
| 1990 | $1.09 | $2.68 | +23% |
| 1991 | $1.02 | $2.41 | −6% |
| 1992 | $0.961 | $2.21 | −6% |
| 1993 | $0.944 | $2.10 | −2% |
| 1994 | $0.916 | $1.99 | −3% |
| 1995 | $0.893 | $1.89 | −3% |
| 1996 | $1.02 | $2.09 | +14% |
| 1997 | $1.01 | $2.03 | −1% |
| 1998 | $0.88 | $1.74 | −13% |
| 1999 | $0.90 | $1.74 | +2% |
| 2000 | $1.36 | $2.54 | +51% |
| 2001 | $1.31 | $2.38 | −4% |
| 2002 | $1.16 | $2.08 | −11% |
| 2003 | $1.40 | $2.45 | +21% |
| 2004 | $1.65 | $2.81 | +18% |
| 2005 | $2.22 | $3.66 | +35% |
| 2006 | $2.50 | $3.99 | +13% |
| 2007 | $2.68 | $4.16 | +7% |
| 2008 | $3.75 | $5.61 | +40% |
| 2009 | $2.51 | $3.77 | −33% |
| 2010 | $2.93 | $4.33 | +17% |
| 2011 | $3.71 | $5.31 | +27% |
| 2012 | $3.75 | $5.26 | +1% |
| 2013 | $3.72 | $5.14 | −1% |
| 2014 | $3.71 | $5.05 | 0% |
| 2015 | $2.60 | $3.53 | −30% |
| 2016 | $2.11 | $2.83 | −19% |
| 2017 | $2.45 | $3.22 | +16% |
| 2018 | $3.09 | $3.96 | +26% |
| 2019 | $2.98 | $3.75 | −4% |
| 2020 | $2.29 | $2.85 | −23% |
| 2021 | $3.01 | $3.58 | +31% |
| 2022 | $5.01 | $5.51 | +66% |
| 2023 | $3.84 | $4.06 | −23% |
| 2024 | $3.61 | $3.70 | −6% |
| 2025 | $3.62 | $3.62 | 0% |
Decade by decade
Across the 1980s the yearly average ran from $0.835 in 1986 to $1.25 in 1981, for a decade average of $1.02. The 1990s averaged $0.963: the most expensive year was 1990 at $1.09 and the cheapest 1998 at $0.88. In the 2000s, a gallon of heating oil averaged $2.05, from a low of $1.16 in 2002 to a high of $3.75 in 2008. Across the 2010s the yearly average ran from $2.11 in 2016 to $3.75 in 2012, for a decade average of $3.11. The 2020s averaged $3.56: the most expensive year was 2022 at $5.01 and the cheapest 2020 at $2.29.
Every five years in this record: 1980 $1.01, 1985 $1.08, 1990 $1.09, 1995 $0.893, 2000 $1.36, 2005 $2.22, 2010 $2.93, 2015 $2.60, 2020 $2.29 and 2025 $3.62. From 2021 to 2025, the most recent years of data, the average rose 20%, from $3.01 to $3.62.
Against inflation
In 2025 dollars, the 1980 average of $1.01 is worth $3.95. The actual 2025 average was $3.62. So after adjusting for inflation, a gallon of heating oil cost 8% less in 2025 than in 1980, even though the price on the shelf went up.
Highs, lows and big moves
The highest yearly average in this record is $5.01 in 2022, and the lowest is $0.835 in 1986. The biggest one-year increase was 66%, from $3.01 in 2021 to $5.01 in 2022. The biggest one-year decrease was 33%, from $3.75 in 2008 to $2.51 in 2009.
Of the 4 items in energy tracked here, 1 rose faster than inflation over their full records.
Average prices are U.S. city averages from the U.S. Bureau of Labor Statistics (series APU000072511), averaged over each calendar year. A year is included only when the Bureau published at least nine months of prices for it. Values in 2025 dollars use the Consumer Price Index for All Urban Consumers (CPI-U) annual average. See how Sticker Shock builds its data. Figures may contain errors and are not financial advice.