Refiners make heating oil from crude oil, which is also the raw material for other petroleum products such as gasoline and jet fuel.
Heating oil prices are linked to crude oil prices. Crude oil is the source of a number of important fuels, including gasoline, heating oil and diesel. Because these fuels all have the same starting point, refineries must decide what to produce when, based on a mix of supply and demand calculations. The price a refiner pays for crude oil is the chief factor determining the cost of home heating oil to the consumer. The most recent crude and heating oil price information can be found in the U.S. Distillate Fuel Report, which is updated weekly.