Heating Oil Price Today

Heating oil (No. 2 fuel oil) is a refined petroleum product derived from crude oil distillation, closely related to diesel fuel. Traded on the NYMEX under ticker HO, heating oil futures are priced in U.S. dollars per gallon and serve as a benchmark for distillate fuel pricing worldwide. Approximately 5.5 million U.S. households rely on heating oil as their primary heating fuel, with the heaviest concentration in the Northeast. Heating oil prices are strongly seasonal, typically rising in the fall as distributors build winter inventories and peaking during cold snaps. The crack spread — the difference between heating oil prices and crude oil — is a key metric for refinery profitability. Heating oil prices also serve as a proxy for diesel fuel costs, making them an important indicator for transportation and logistics industries.