The age old question: Is it cheaper to heat my home with natural gas or oil?
In the Northeast, most homes have traditionally heated with oil. But in recent years oil prices have become volatile; leading to large heating oil bills. At the same time more and more homeowners in Massachusetts have switched from oil to natural gas to save money.
Avg Winter Heating Bill …$2,535 (oil) vs $732 (gas)
According to a study completed by the federal energy Information Administration the average American homeowner spends $2,535 heating their home with oil. While the average cost to heat a home with gas is just $732!
So what does the future hold? The United States natural gas reserves and production are at historic highs. The US currently exports natural gas surplus to other countries around the world. In contrast, oil production, both domestic and international is falling. And new oil discoveries are becoming increasingly expensive to recover. Add to that the never-ending crisis among oil-producing countries in the Middle East and you have a recipe for future volatility in the oil industry and specifically home heating oil prices in the Northeastern states like Massachusetts, Connecticut, Rhode Islands, New York, Vermont and New Hampshire.
So, consider an oil to natural gas furnace conversion.