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Heating oil produces 138,500 British thermal units per US gallon (38.6 MJ/l) and weighs 8.2 pounds per US gallon (0.95 kg/l). Number 2 fuel oil has a flash point of 52 Â°C (126 Â°F). Most heating oil products are chemically very similar to diesel fuel used as motor fuel.
Actually, oil is a little more. Based on the current price of natural gas, a break-even price for heating oil is around $2.20 per gallon. (See this PSE&G Web site for a handy conversion table.) Today heating oil is close to $2.50, so it's a bit more expensive.Sure, we'd pocket some money if we converted to gas.t today's prices for heating oil and natural gas, we wouldn't even begin to see a return on our investment for about 10 years. For one thing, today oil and gas are roughly the equivalent price for the same amount of heat value.