According to the U.S. Bureau of Labor Statistics, the average price of fuel oil rose 855%, from $0.54 per gallon in 1978 to $5.15 in August 2026. Overall prices rose 414% 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
Fuel oil prices are 8,526.08% higher in 2026 versus 1935 (a $438.24 difference in value).
Between 1935 and 2026, Fuel oil experienced an average inflation rate of 5.02% per year. This rate of change indicates significant inflation. In other words, fuel oil costing $5.14 in the year 1935 would cost $443.38 in 2026 for an equivalent purchase. Compared to the overall inflation rate of 3.56% during this same period, inflation for fuel oil was higher.
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 $5.14 beginning in 1935. Each of the amounts below is equivalent in terms of what it could buy at the time:
| Year | USD Value | Inflation Rate |
|---|---|---|
| 1935 | $5.14 | - |
| 1936 | $5.35 | 4.13% |
| 1937 | $6.13 | 14.51% |
| 1938 | $5.98 | -2.51% |
| 1939 | $5.37 | -10.17% |
| 1940 | $5.70 | 6.16% |
| 1941 | $5.81 | 2.02% |
| 1942 | $6.67 | 14.81% |
| 1943 | $7.20 | 7.83% |
| 1944 | $7.24 | 0.53% |
| 1945 | $6.89 | -4.78% |
| 1946 | $6.97 | 1.23% |
| 1947 | $8.17 | 17.09% |
| 1948 | $10.48 | 28.34% |
| 1949 | $10.09 | -3.74% |
| 1950 | $10.10 | 0.15% |
| 1951 | $10.73 | 6.16% |
| 1952 | $10.98 | 2.37% |
| 1953 | $11.54 | 5.11% |
| 1954 | $11.62 | 0.67% |
| 1955 | $12.02 | 3.44% |
| 1956 | $12.59 | 4.73% |
| 1957 | $13.23 | 5.13% |
| 1958 | $12.47 | -5.75% |
| 1959 | $12.66 | 1.48% |
| 1960 | $12.43 | -1.82% |
| 1961 | $12.93 | 4.08% |
| 1962 | $12.93 | -0.06% |
| 1963 | $13.21 | 2.20% |
| 1964 | $12.92 | -2.21% |
| 1965 | $13.18 | 2.02% |
| 1966 | $13.52 | 2.57% |
| 1967 | $13.97 | 3.36% |
| 1968 | $14.40 | 3.03% |
| 1969 | $14.71 | 2.19% |
| 1970 | $15.27 | 3.82% |
| 1971 | $16.21 | 6.14% |
| 1972 | $16.26 | 0.33% |
| 1973 | $18.79 | 15.51% |
| 1974 | $29.74 | 58.33% |
| 1975 | $32.21 | 8.30% |
| 1976 | $34.52 | 7.16% |
| 1977 | $39.13 | 13.34% |
| 1978 | $41.45 | 5.94% |
| 1979 | $58.18 | 40.37% |
| 1980 | $80.95 | 39.14% |
| 1981 | $99.04 | 22.34% |
| 1982 | $96.89 | -2.17% |
| 1983 | $89.05 | -8.10% |
| 1984 | $90.91 | 2.09% |
| 1985 | $87.27 | -4.00% |
| 1986 | $68.36 | -21.68% |
| 1987 | $69.96 | 2.35% |
| 1988 | $69.92 | -0.07% |
| 1989 | $74.14 | 6.04% |
| 1990 | $91.03 | 22.78% |
| 1991 | $85.27 | -6.32% |
| 1992 | $81.18 | -4.81% |
| 1993 | $80.48 | -0.85% |
| 1994 | $79.03 | -1.81% |
| 1995 | $78.21 | -1.04% |
| 1996 | $89.53 | 14.47% |
| 1997 | $89.38 | -0.16% |
| 1998 | $78.29 | -12.41% |
| 1999 | $79.88 | 2.02% |
| 2000 | $120.20 | 50.49% |
| 2001 | $116.11 | -3.40% |
| 2002 | $102.92 | -11.36% |
| 2003 | $126.09 | 22.51% |
| 2004 | $147.65 | 17.09% |
| 2005 | $199.66 | 35.22% |
| 2006 | $225.70 | 13.05% |
| 2007 | $242.33 | 7.37% |
| 2008 | $336.82 | 39.00% |
| 2009 | $221.65 | -34.19% |
| 2010 | $261.09 | 17.79% |
| 2011 | $339.41 | 30.00% |
| 2012 | $347.09 | 2.26% |
| 2013 | $341.65 | -1.57% |
| 2014 | $336.83 | -1.41% |
| 2015 | $234.68 | -30.33% |
| 2016 | $193.03 | -17.75% |
| 2017 | $223.05 | 15.55% |
| 2018 | $273.21 | 22.49% |
| 2019 | $260.61 | -4.61% |
| 2020 | $201.18 | -22.80% |
| 2021 | $264.32 | 31.39% |
| 2022 | $445.25 | 68.45% |
| 2023 | $369.27 | -17.06% |
| 2024 | $334.16 | -9.51% |
| 2025 | $327.95 | -1.86% |
| 2026 | $443.38 | 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 |