Compare fuels in dollars per delivered MMBtu: divide fuel price by heat content and equipment efficiency. At 17 cents per kWh with a COP 3.0 heat pump, heat costs about $16.60 per MMBtu; at $1.50 per therm in an 80% furnace, about $18.75. Heating oil at $3.80 per gallon in an 85% furnace runs about $32.
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Heating Fuel Cost Comparison
Gas, oil, propane, electric, and heat pump on one yardstick.