November 28, 2022

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Heating oil: Prices have doubled in a year

Heating oil: Prices have doubled in a year

With 200,000 Quebec households heating themselves with oil, the wallet has been hit hard. Filling up the heating oil tank costs twice what it cost last year.

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“Oil prices continue to be at very high levels, so the prices of all petroleum products are high,” summarizes Professor Pierre-Olivier Pineau of HEC Montreal.

According to the Régie de l’énergie du Québec, the average price of light fuel oil used for heating this week was $2.04 per liter. This is an increase of almost 75% compared to the same date last year. In November 2021, the average price was $1.18.

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A family that wants to fill a 500-liter tank before winter will pay more than $1,000. In November 2021, the invoice showed 590$. Keep in mind that multiple refills are often necessary to survive the winter.

By 2021, it is estimated that more than 200,000 Quebec households will still be heated by oil.

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