Here is an interesting update on the cost of fuel since last winter:
- Natural gas cost about $1.25 per therm: the current cost is about $0.78/therm (down 37%)
- Electricity cost about $0.07 per KW: the current cost is the same
- Fuel oil cost $4.00 per gallon: the 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 the 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.