Heating · Indiana
Heating Oil and Propane Prices in Indiana
In the week of November 2, 2026, heating oil averaged $6.45 a gallon and propane $2.72 a gallon in Indiana, before taxes (EIA). Per million Btu of heat delivered by an older system at the federal minimum efficiency: natural gas $13.81; heat pump $22.72–$24.60; propane $37.22; electric resistance $49.94; heating oil $56.12. Without a gas line, the cheapest is a heat pump.
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Cost per million Btu delivered
| Heat source | Price | Older system, $/MMBtu | New system | Typical winter |
|---|---|---|---|---|
| Natural gas | $11.69/Mcf | $13.81 | $11.51 | $619 |
| Heat pump | 17.04¢/kWh | $22.72–$24.60 | $20.05–$24.60 | $1,018–$1,102 |
| Propane | $2.72/gal | $37.22 | $31.02 | $1,667 |
| Electric resistance | 17.04¢/kWh | $49.94 | $49.94 | $2,237 |
| Heating oil | $6.45/gal | $56.12 | $53.54 | $2,514 |
Firewood in Indiana
There’s no official firewood price, so bring the seller’s quote. As a yardstick at this week’s prices, a cord of red oak (24.6 million Btu, Utah State) burned in an EPA-certified non-catalytic stove (71%) is worth at most $650 a cord to match propane and $980 a cord to match heating oil in Indiana. Check a firewood price →
How long a tank lasts
A 275-gallon heating oil tank at a quarter full holds about 69 gallons: about 17 days in a typical January for the median home heated with heating oil in Indiana’s climate region (452 gallons a year for heat, EIA RECS 2020). Check your tank →
Electricity rates and appliance costs in Indiana → · Thinking about a heat pump? → · Propane prices in every state we track →
FAQ
What is the price of heating oil in Indiana this week?
Heating oil averaged $6.45 a gallon and propane $2.72 a gallon in Indiana in the week of November 2, 2026, before taxes (EIA weekly survey).
What is the cheapest way to heat a home in Indiana?
At these prices, with older systems at the federal minimum efficiency: natural gas ($13.81 per million Btu delivered). Without natural gas, heat pump ($22.72–$24.60). Firewood depends on the price you pay; the most a cord is worth is shown on this page.
How much does it cost to heat a home in Indiana?
For the median home in Indiana’s climate region heated with gas, propane or oil (about 45 million Btu of heat a year, EIA RECS 2020), a winter costs about natural gas $619; heat pump $1,018–$1,102; propane $1,667; electric resistance $2,237; heating oil $2,514. Homes vary from half to double that.
Sources and assumptions
- Heating oil and propane: EIA weekly residential propane prices and heating oil prices, week of November 2, 2026 (released 11/4/2026; next 11/12/2026). EIA: “Price in dollars per gallon, excluding taxes.” “Weekly heating oil and propane prices are only collected during the heating season, which extends from October through March.” We show the 38 states EIA surveys weekly for propane and the 21 for heating oil; we don’t claim to cover every state.
- Natural gas: EIA residential natural gas prices (heating-season average of the monthly prices, October 2025–March 2026, where EIA published at least 4 of the 6 months; otherwise the annual average), converted with each state’s heat content of natural gas (Btu per cubic foot, 2025). Summer months are never used.
- Electricity: EIA Electric Power Monthly, average residential price year-to-date average through August 2026.
- Heat content: EIA: “Electricity 1 kilowatthour=3,412 Btu Natural gas 1 cubic foot=1,036 Btu 1 therm=100,000 Btu Motor gasoline 1 gallon=120,214 Btu Diesel fuel 1 gallon=137,381 Btu Heating oil 1 gallon=138,500 Btu Propane 1 gallon=91,452 Btu Wood 1 cord=20,000,000 Btu” Cost per million Btu follows EIA FAQ 987: “[ (Fuel price per unit) divided by (fuel heat content per unit) ] multiplied by 1,000,000”, divided by the system’s efficiency.
- Efficiency: older systems at the federal minimum (10 CFR 430.32: gas and propane furnaces 80.0% AFUE, oil furnaces 83.0%, split heat pumps HSPF2 7.5); new systems at the ENERGY STAR median (certified furnaces: gas/propane 96%, oil 87%; certified heat pumps: HSPF2 8.5, cold-climate 9.0). Heat pumps are shown as a range down to the median COP at 5 °F (2.03, 283,737 certified systems). Wood stoves: EPA certified wood heater database (2020 rule, 417 models, lab-tested HHV efficiency medians: non-catalytic 71%, catalytic 78%, hybrid 78%).
- Typical winter: EIA RECS 2020 microdata (space-heating use of homes heated mainly by each fuel, by EIA climate region), and EIA’s Winter Fuels Outlook heating degree days for the month-by-month split.