Fuel oil prices are 466.32% higher in 2026 versus 1998 (a $4.10 difference in value).
The latest available average price is $5.15 in August 2026 for Fuel oil #2 per gallon (3.785 liters). See observed price history.
Between 1998 and 2026, Fuel oil experienced an average inflation rate of 6.39% per year. This rate of change indicates significant inflation. In other words, fuel oil costing $0.88 in the year 1998 would cost $4.98 in 2026 for an equivalent purchase. Compared to the overall inflation rate of 2.57% during this same period, inflation for fuel oil was significantly higher.
In the year 1998: Pricing changed by -12.41%, which is significantly below the average yearly change for fuel oil during the 1998-2026 time period. Compared to inflation for all items in 1998 (1.55%), inflation for fuel oil was much lower.
According to the U.S. Bureau of Labor Statistics, the average price of fuel oil rose 485%, from $0.88 per gallon in 1998 to $5.15 in August 2026. Overall prices rose 106% over the same period, so fuel oil rose faster than inflation. This data is collected by a national survey and can vary from region to region.
● Price● Price, inflation-adjusted
The average price for fuel oil is calculated from a weighted average of retailer data collected by the Bureau of Labor Statistics. The table below shows the average U.S. price of fuel oil #2 per gallon (3.785 liters) each year, along with the same price adjusted for inflation. To understand how price levels differ from inflation rates, see this article published by the BLS.
| Year | Price (per gallon) | Price, inflation-adjusted |
|---|---|---|
| 2026 (partial) | $4.73 | $4.73 |
| 2025 | $3.62 | $3.77 |
| 2024 | $3.61 | $3.85 |
| 2023 | $3.84 | $4.22 |
| 2022 | $5.01 | $5.74 |
| 2021 | $3.01 | $3.72 |
| 2020 | $2.29 | $2.96 |
| 2019 | $2.98 | $3.91 |
| 2018 | $3.09 | $4.12 |
| 2017 | $2.45 | $3.34 |
| 2016 | $2.11 | $2.95 |
| 2015 | $2.60 | $3.68 |
| 2014 | $3.71 | $5.25 |
| 2013 | $3.72 | $5.35 |
| 2012 | $3.75 | $5.48 |
| 2011 | $3.71 | $5.53 |
| 2010 | $2.93 | $4.49 |
| 2009 | $2.51 | $3.93 |
| 2008 | $3.75 | $5.84 |
| 2007 | $2.68 | $4.33 |
| 2006 | $2.50 | $4.15 |
| 2005 | $2.22 | $3.81 |
| 2004 | $1.65 | $2.92 |
| 2003 | $1.40 | $2.55 |
| 2002 | $1.16 | $2.16 |
| 2001 | $1.31 | $2.48 |
| 2000 | $1.36 | $2.65 |
| 1999 | $0.90 | $1.81 |
| 1998 | $0.88 | $1.81 |
| 1997 | $1.01 | $2.12 |
| 1996 | $1.02 | $2.18 |
| 1995 | $0.89 | $1.96 |
| 1994 | $0.92 | $2.07 |
| 1993 | $0.94 | $2.19 |
| 1992 | $0.96 | $2.29 |
| 1991 | $1.02 | $2.50 |
| 1990 | $1.09 | $2.79 |
| 1989 | $0.89 | $2.40 |
| 1988 | $0.85 | $2.40 |
| 1987 | $0.85 | $2.51 |
| 1986 | $0.83 | $2.55 |
| 1985 | $1.08 | $3.36 |
| 1984 | $1.12 | $3.61 |
| 1983 | $1.10 | $3.70 |
| 1982 | $1.21 | $4.20 |
| 1981 | $1.25 | $4.59 |
| 1980 | $1.01 | $4.10 |
| 1979 | $0.73 | $3.36 |
| 1978 | $0.54 | $2.77 |
Yearly averages; 2026 is through August. Inflation-adjusted to 2026 dollars.
Below are calculations of equivalent buying power for Fuel oil, over time, for $0.88 beginning in 1998. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1998 | $0.88 | -12.41% |
| 1999 | $0.90 | 2.02% |
| 2000 | $1.35 | 50.49% |
| 2001 | $1.31 | -3.40% |
| 2002 | $1.16 | -11.36% |
| 2003 | $1.42 | 22.51% |
| 2004 | $1.66 | 17.09% |
| 2005 | $2.24 | 35.22% |
| 2006 | $2.54 | 13.05% |
| 2007 | $2.72 | 7.37% |
| 2008 | $3.79 | 39.00% |
| 2009 | $2.49 | -34.19% |
| 2010 | $2.93 | 17.79% |
| 2011 | $3.81 | 30.00% |
| 2012 | $3.90 | 2.26% |
| 2013 | $3.84 | -1.57% |
| 2014 | $3.79 | -1.41% |
| 2015 | $2.64 | -30.33% |
| 2016 | $2.17 | -17.75% |
| 2017 | $2.51 | 15.55% |
| 2018 | $3.07 | 22.49% |
| 2019 | $2.93 | -4.61% |
| 2020 | $2.26 | -22.80% |
| 2021 | $2.97 | 31.39% |
| 2022 | $5.00 | 68.45% |
| 2023 | $4.15 | -17.06% |
| 2024 | $3.76 | -9.51% |
| 2025 | $3.69 | -1.86% |
| 2026 | $4.98 | 35.20%* |
* Not final. See inflation summary for latest details.
** Extended periods of 0% inflation usually indicate incomplete underlying data. This can manifest as a sharp increase in inflation later on.
Raw Consumer Price Index data from U.S. Bureau of Labor Statistics for Fuel oil:
| Year | 1935 | 1936 | 1937 | 1938 | 1939 | 1940 | 1941 | 1942 | 1943 | 1944 | 1945 | 1946 | 1947 | 1948 | 1949 | 1950 | 1951 | 1952 | 1953 | 1954 | 1955 | 1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| CPI | 5.570 | 5.800 | 6.642 | 6.475 | 5.817 | 6.175 | 6.300 | 7.233 | 7.800 | 7.842 | 7.467 | 7.558 | 8.850 | 11.358 | 10.933 | 10.950 | 11.625 | 11.900 | 12.508 | 12.592 | 13.025 | 13.642 | 14.342 | 13.517 | 13.717 | 13.467 | 14.017 | 14.008 | 14.317 | 14.000 | 14.283 | 14.650 | 15.142 | 15.600 | 15.942 | 16.550 | 17.567 | 17.625 | 20.358 | 32.233 | 34.908 | 37.408 | 42.400 | 44.917 | 63.050 | 87.725 | 107.325 | 105.000 | 96.500 | 98.517 | 94.575 | 74.075 | 75.817 | 75.767 | 80.342 | 98.642 | 92.408 | 87.967 | 87.217 | 85.642 | 84.750 | 97.017 | 96.858 | 84.842 | 86.558 | 130.258 | 125.825 | 111.533 | 136.642 | 160.000 | 216.358 | 244.583 | 262.597 | 364.999 | 240.197 | 282.932 | 367.804 | 376.126 | 370.234 | 365.008 | 254.317 | 209.182 | 241.714 | 296.064 | 282.408 | 218.008 | 286.435 | 482.502 | 400.165 | 362.112 | 355.387 | 480.473 |