Every heating fuel, ranked by real cost
Sticker price per gallon or therm is meaningless on its own — what matters is dollars per million BTU of heat that actually reaches your rooms, after system efficiency. Prices as of August 2026.
$0.17/kWh · season-average COP ≈ 3.0 for a modern cold-climate air-source unit (2.0–4.0 depending on climate)
$1.60/therm · 90% AFUE furnace (standard 80%, condensing up to 97%)
$250/ton · 80% efficient pellet stove (75–85% typical)
$300/cord · 70% efficient modern EPA wood stove (open fireplaces can be 10% or worse)
$3.50/gallon · 85% AFUE oil furnace/boiler (older units 80%, new 87%+)
$2.67/gallon · 90% AFUE propane furnace (condensing up to 97%)
$0.17/kWh · baseboards, electric furnace or space heaters — 100% efficient at the unit, but every BTU is made from scratch
MMBTU = one million BTU of delivered heat. A typical 2,000 sq ft home in a cold climate needs ~90 MMBTU per season.