According to the U.S. Bureau of Labor Statistics, the average price of fuel oil rose 999%, from $0.54 per gallon in 1978 to $5.92 in September 2026. Overall prices rose 417% 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 8,778.14% higher in 2026 versus 1935 (a $519.67 difference in value).
Between 1935 and 2026, Fuel oil experienced an average inflation rate of 5.05% per year. This rate of change indicates significant inflation. In other words, fuel oil costing $5.92 in the year 1935 would cost $525.59 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 official rate is based on an average household's spending, so your own inflation rate is probably different. The personal inflation calculator works it out from your budget.
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) | $4.86 | $4.86 |
| 2025 | $3.62 | $3.79 |
| 2024 | $3.61 | $3.87 |
| 2023 | $3.84 | $4.24 |
| 2022 | $5.01 | $5.77 |
| 2021 | $3.01 | $3.74 |
| 2020 | $2.29 | $2.98 |
| 2019 | $2.98 | $3.93 |
| 2018 | $3.09 | $4.14 |
| 2017 | $2.45 | $3.36 |
| 2016 | $2.11 | $2.96 |
| 2015 | $2.60 | $3.70 |
| 2014 | $3.71 | $5.28 |
| 2013 | $3.72 | $5.38 |
| 2012 | $3.75 | $5.51 |
| 2011 | $3.71 | $5.56 |
| 2010 | $2.93 | $4.52 |
| 2009 | $2.51 | $3.95 |
| 2008 | $3.75 | $5.87 |
| 2007 | $2.68 | $4.36 |
| 2006 | $2.50 | $4.17 |
| 2005 | $2.22 | $3.83 |
| 2004 | $1.65 | $2.93 |
| 2003 | $1.40 | $2.56 |
| 2002 | $1.16 | $2.18 |
| 2001 | $1.31 | $2.49 |
| 2000 | $1.36 | $2.66 |
| 1999 | $0.90 | $1.82 |
| 1998 | $0.88 | $1.82 |
| 1997 | $1.01 | $2.13 |
| 1996 | $1.02 | $2.19 |
| 1995 | $0.89 | $1.98 |
| 1994 | $0.92 | $2.08 |
| 1993 | $0.94 | $2.20 |
| 1992 | $0.96 | $2.31 |
| 1991 | $1.02 | $2.52 |
| 1990 | $1.09 | $2.80 |
| 1989 | $0.89 | $2.41 |
| 1988 | $0.85 | $2.41 |
| 1987 | $0.85 | $2.53 |
| 1986 | $0.83 | $2.57 |
| 1985 | $1.08 | $3.38 |
| 1984 | $1.12 | $3.63 |
| 1983 | $1.10 | $3.73 |
| 1982 | $1.21 | $4.22 |
| 1981 | $1.25 | $4.62 |
| 1980 | $1.01 | $4.13 |
| 1979 | $0.73 | $3.38 |
| 1978 | $0.54 | $2.79 |
Yearly averages; 2026 is through September. Inflation-adjusted to 2026 dollars.
Below are calculations of equivalent buying power for Fuel oil, over time, for $5.92 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 | $5.92 | - |
| 1936 | $6.16 | 4.13% |
| 1937 | $7.06 | 14.51% |
| 1938 | $6.88 | -2.51% |
| 1939 | $6.18 | -10.17% |
| 1940 | $6.56 | 6.16% |
| 1941 | $6.70 | 2.02% |
| 1942 | $7.69 | 14.81% |
| 1943 | $8.29 | 7.83% |
| 1944 | $8.33 | 0.53% |
| 1945 | $7.94 | -4.78% |
| 1946 | $8.03 | 1.23% |
| 1947 | $9.41 | 17.09% |
| 1948 | $12.07 | 28.34% |
| 1949 | $11.62 | -3.74% |
| 1950 | $11.64 | 0.15% |
| 1951 | $12.36 | 6.16% |
| 1952 | $12.65 | 2.37% |
| 1953 | $13.29 | 5.11% |
| 1954 | $13.38 | 0.67% |
| 1955 | $13.84 | 3.44% |
| 1956 | $14.50 | 4.73% |
| 1957 | $15.24 | 5.13% |
| 1958 | $14.37 | -5.75% |
| 1959 | $14.58 | 1.48% |
| 1960 | $14.31 | -1.82% |
| 1961 | $14.90 | 4.08% |
| 1962 | $14.89 | -0.06% |
| 1963 | $15.22 | 2.20% |
| 1964 | $14.88 | -2.21% |
| 1965 | $15.18 | 2.02% |
| 1966 | $15.57 | 2.57% |
| 1967 | $16.09 | 3.36% |
| 1968 | $16.58 | 3.03% |
| 1969 | $16.94 | 2.19% |
| 1970 | $17.59 | 3.82% |
| 1971 | $18.67 | 6.14% |
| 1972 | $18.73 | 0.33% |
| 1973 | $21.64 | 15.51% |
| 1974 | $34.26 | 58.33% |
| 1975 | $37.10 | 8.30% |
| 1976 | $39.76 | 7.16% |
| 1977 | $45.06 | 13.34% |
| 1978 | $47.74 | 5.94% |
| 1979 | $67.01 | 40.37% |
| 1980 | $93.24 | 39.14% |
| 1981 | $114.07 | 22.34% |
| 1982 | $111.60 | -2.17% |
| 1983 | $102.56 | -8.10% |
| 1984 | $104.71 | 2.09% |
| 1985 | $100.52 | -4.00% |
| 1986 | $78.73 | -21.68% |
| 1987 | $80.58 | 2.35% |
| 1988 | $80.53 | -0.07% |
| 1989 | $85.39 | 6.04% |
| 1990 | $104.84 | 22.78% |
| 1991 | $98.21 | -6.32% |
| 1992 | $93.49 | -4.81% |
| 1993 | $92.70 | -0.85% |
| 1994 | $91.02 | -1.81% |
| 1995 | $90.08 | -1.04% |
| 1996 | $103.11 | 14.47% |
| 1997 | $102.94 | -0.16% |
| 1998 | $90.17 | -12.41% |
| 1999 | $92.00 | 2.02% |
| 2000 | $138.44 | 50.49% |
| 2001 | $133.73 | -3.40% |
| 2002 | $118.54 | -11.36% |
| 2003 | $145.23 | 22.51% |
| 2004 | $170.05 | 17.09% |
| 2005 | $229.95 | 35.22% |
| 2006 | $259.95 | 13.05% |
| 2007 | $279.10 | 7.37% |
| 2008 | $387.93 | 39.00% |
| 2009 | $255.29 | -34.19% |
| 2010 | $300.71 | 17.79% |
| 2011 | $390.92 | 30.00% |
| 2012 | $399.76 | 2.26% |
| 2013 | $393.50 | -1.57% |
| 2014 | $387.94 | -1.41% |
| 2015 | $270.30 | -30.33% |
| 2016 | $222.33 | -17.75% |
| 2017 | $256.90 | 15.55% |
| 2018 | $314.67 | 22.49% |
| 2019 | $300.15 | -4.61% |
| 2020 | $231.71 | -22.80% |
| 2021 | $304.43 | 31.39% |
| 2022 | $512.82 | 68.45% |
| 2023 | $425.31 | -17.06% |
| 2024 | $384.87 | -9.51% |
| 2025 | $377.72 | -1.86% |
| 2026 | $525.59 | 39.15%* |
* 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 | 494.512 |