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However, heating a home with a geothermal heat pump or a cold climate heat pump would be less expensive than using oil.At $4.67 a gallon for oil, it would cost the same to produce the same amount of heat using oil or electric baseboard heat.or example, a home that uses 800 gallons of oil for heating would use about 25,300 kilowatt-hours to produce the same amount of heat. Visit www.cmpco.com for a link to a more detailed spreadsheet from the Department of Energy to compare heating costs.
The good news is that home heating oil should last 18 to 24 months, as long as effective additives were mixed with it upon delivery. The most common variety, known as No. 2 heating oil, is essentially the same product as diesel fuel, except diesel has additives intended to boost effectiveness in motor vehicle engines during cold weather.