Heating oil at $6.138 a gallon on Nov 2: what this winter's heating bills could cost you

What's happened

Residential heating oil averaged $6.138 a gallon in the U.S. Energy Information Administration's (EIA) weekly survey for November 2, 2026. That's $2.506 more than a year earlier. Residential propane averaged $2.820 a gallon, 37.5 cents higher than a year ago.

The EIA's Winter Fuels Outlook, published October 6, said heating oil prices were up more than 30% on last winter. It pointed to higher global crude oil and distillate prices, with oil flows from the Middle East still constrained and U.S. distillate stocks low going into winter. It said most homes would see smaller changes. The figures in this story come from that October 6 outlook. The EIA's next Short-Term Energy Outlook was scheduled for November 10 and may have revised them, so check its Winter Fuels Outlook page for the latest numbers.

What the EIA expects you to spend, November to March

Main heating fuel	Average spend this winter	Change on last winter
Natural gas	$640	9% lower
Electricity	$1,196	4% higher
Propane	$1,246	3% lower
Heating oil	$2,115	21% higher

These are national averages from the October 6 outlook. They cover the main heating fuel, which many homes also use for hot water or cooking.

Who's affected

Natural gas was the main heating fuel in 46% of U.S. homes in 2024, according to Census data the EIA cites. About 3% of households heat mainly with oil, mostly in the Northeast, and they face the largest rise. The EIA expects a milder winter than last year in the Northeast and a much colder one in the West, where it forecasts electricity spending up 9%. It also notes a strong El Niño pattern this winter, which could make temperatures swing well away from its forecast.

A worked example

The EIA expects the average oil-heated home to burn 402 gallons this winter, at an average forecast price of $5.26 a gallon. That's where the $2,115 comes from.

If you pay the November 2 price of $6.138 for all 402 gallons instead, the bill is 402 x $6.138 = $2,467.48. That's $352.48 more than the EIA's forecast. The forecast assumes prices ease through the winter, from $5.79 a gallon in November to $4.84 in March. If they don't, oil-heated homes will pay more than the average.

For gas, the $640 average works out at $128 a month over five months, but the EIA expects January alone to cost $146. A budget billing plan, if your utility offers one, spreads the cost more evenly.

What to do now

1. Ask about budget billing. Ask your utility or fuel dealer whether it offers equal monthly payments, which smooth out January.
2. Apply for LIHEAP early. The Low Income Home Energy Assistance Program helps pay heating bills and covers emergencies. Each state sets its own income limits. Find your office through USA.gov or the LIHEAP Clearinghouse.
3. Check weatherization help. The Weatherization Assistance Program pays for energy-saving repairs for eligible homes. Contact your state's WAP office.
4. Know your state's shut-off rules. Each state sets when utilities can disconnect for non-payment, and some depend on the weather, your age or a disability.
5. Seal drafts. Weatherstripping and door draft stoppers are simple fixes before the coldest months.

The shut-off scam to hang up on

Higher bills bring scam calls. The FTC says that if someone claiming to be your gas, electric or water company threatens to cut you off unless you pay, it's a scam. Real utilities "won't demand immediate payment to avoid same-day disconnection." Scammers ask you to pay by wire, cryptocurrency, payment app or gift card, and your utility won't ask for any of those.

• Hang up, and don't click links in texts or emails.
• Call your utility on the number on your bill or its real website. Scroll past paid search ads to find it.
• Don't let anyone pushing for payment into your home.
• Report it to your utility, at ReportFraud.ftc.gov and to your state attorney general.

Questions

Will gas prices at the pump help? A little. AAA's national average for regular stood at $4.0203 on November 8, down from $4.3612 a month earlier, but up from $3.0731 a year ago.

Should I switch to a space heater? Only to warm one room. Our space heater running costs guide does the sums.

When will the forecasts change? The EIA updates them monthly with its Short-Term Energy Outlook. Its weekly heating oil and propane prices are also updated through the heating season, so the November 2 figures above will have been followed by newer ones.

Ways to save

Turning the thermostat down is easier in warm layers. Heat Holders thermal socks had 20% off in its End of Season Sale on November 8, with free shipping on orders of $25 or more. Weatherstripping and draft stoppers are sold on Amazon.

When you shop through Promo Magpie, part of the commission the shop pays us goes to the charity or club you pick. You pay the same price.

Sources: EIA Heating Oil and Propane Update, November 2, 2026, EIA Winter Fuels Outlook 2026 to 2027, October 6, 2026, EIA Short-Term Energy Outlook, October 2026, USA.gov: help with energy bills, FTC: scammers pretend to be your utility company (June 2026), AAA gas prices, November 8, 2026, Heat Holders, checked November 8, 2026