Here is an interesting update on the cost of fuel since last winter:
- Natural gas cost about $1.25 per therm: current cost is about $0.78/therm (down 37%)
- Electricity cost about $0.07 per KW: current cost is the same
- Fuel oil cost $4.00 per gallon: current cost is about $2.99/gal (down 25%)
- Propane cost about $2.99/gallone: current cost is about $1.85/gal (down 38%)
Fuel oil and propane fluctuate like a commodity, so their price will increase rapidly in the coming months as need increases. So, if you heat with oil or propane, FILL YOUR TANK NOW!!!
Even with these fossil fuel decreases, a gas furnace with a 15 SEER heat pump Hybrid system is still your lowest-cost heating system, and will cost around 35% less to heat with than even a 95% gas furnace alone.