Is Heating Oil Cheaper Than Gas Heating?

When it comes to heating your home or business, there are a number of different options. Heating oil is one such option, and it’s become a popular alternative to gas. However, before switching from heating oil to gas, you may be asking whether or not heating oil is cheaper than gas. Although this does depend slightly on where you live, heating oil is generally more affordable – but that’s not the only benefit of switching to heating oil.

Why Heating Oil is Cheaper

Heating oil has been less expensive than natural gas for almost 22 years. For years, heating oil was a by-product of the oil refining process while natural gas was specifically extracted to be gas. As supplies tightened, prices rose. As fracking became popular, natural gas prices have plummeted, but those same techniques can be applied to oil production, which has in turn reduced the cost of oil and the heating oil that is refined out of it.

Additionally, heating oil systems have been evolving substantially over the past few decades due to advances in technology. The average oil heated home consumption has reduced by more than 33 percent over the past three decades. The more efficient a heating system is, the less you end up having to pay on the fuel.

Additional Benefits for Using Heating Oil

In addition to saving money when switching from gas to heating oil, you’ll also take advantage of some of the following benefits:

• Less service interruptions – A pipeline incident or leak could not only disrupt your natural gas service, it could also endanger your home or business. Heating oil is stored in tanks on your property, which means there’s far less risk of service interruption.
• Heating oil systems last longer – A gas furnace typically lasts between 11 and 14 years. A heating oil appliance can last more than 30 years if it’s properly maintained. This can contribute to your savings as well since you won’t have to invest in a new heating system as often.
• Heating oil is safer – Heating oil won’t ignite until it reaches 140 degrees, at which point it simply vaporizes. This means that unlike gas, heating oil won’t explode. You could drop a lit match into a tank of heating oil and it would simply extinguish.

Heating oil is not only a cheaper alternative to gas, it’s more efficient and less dangerous as well. If you have questions about switching from natural gas to heating oil, then be sure to contact us at Woolley Home Solutions today.