Written on: November 13, 2019
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The two factors that will have the biggest impact on your heating oil use is the size of your home, and how long you leave your furnace running.
To start, the size of your home will have an impact on the number of gallons required to keep your house warm. The most common sizes of heating oil tanks are:
As a general rule of thumb, most homeowners use tanks 300 gallons or less for one and two-bedroom homes. Larger three and four-bedroom homes require tanks closer to 500 gallons.
On average, an oil-burning furnace will burn between 0.8 and 1.7 gallons per hour while in operation. So, if you have a one-bedroom home, requiring a 300-gallon tank, and you keep your furnace running for 10 hours, you’ll need to fill your rank after 17 days.
1.7 gallon per hour *10 hours a day = 17 gallons a day. 300-gallon tank / 17 gallons = 17.64 days
Of course, the equation above is only a ballpark figure. How much heating oil you use will also vary based on the factors below.
It may also be time to consider replacing your furnace or any of its parts that are aging. Oil burners, furnaces, and nozzles that are approaching or are more than 20 years old may add 15-25% on your heating oil bill.
To get the best assessment of how much heating oil you will use throughout the year, gather your bills for as many months back as you can.
Compare your monthly spend to the average cost per gallon of heating oil (roughly $3.00) to see how many gallons you used.
You can also consult with a heating oil expert to get their take on your heating oil consumption and help determine the best way to keep your heating oil filled automatically.
Heating oil will generally last between 18 and 24 months inside a tank, as long as you take care of your tank and use high-quality oil. If you have a partially full tank left when you turn off the heat for the spring and summer months, your oil should still be in good condition once you turn the heat back on in the fall.
You may be surprised to learn that there are many factors that can impact delivery reliability and the price of your fuel.
September and April are great months to order oil. Both are downtimes for heating oil delivery and allows you to fill up your tank without competing with the demand that pours in closer to the winter season.
According to the U.S. Energy Information Administration, the average cost for heating oil in 2019 was just over $3.00 per gallon. However, each month marked subtle changes to the price a consumer will pay. For example, in February, the cost was $3.20, and in October, it was only $2.90. By paying attention to the ebbs and flow of oil prices, you can cost-effectively fill your tank.
Companies like Santa Energy also provide price protection plans to help homeowners avoid the costly volatility of the heating oil market.
Keeping up with heating oil can be difficult. Remove the worry and hassle of monitoring your fuel levels by working with a heating oil company that does the heavy lifting for you.
Santa Energy offers tracking technology that calculates precisely when your home will need a heating oil refill and ensures delivery before you run out.