Gas Utility gas rates for May

Heating oil less expensive than gas for a second month

The gas utility tariffs for May are in. You can compare these rates to your own prices. As shown below, with the recent collapse in petroleum prices worldwide, local heating oil prices are now less than the average natural gas tariff despite gas tariffs being down on average. These utility tariffs below are expressed in heating oil gallon equivalents, and so present gas rates on a British thermal unit (Btu) to Btu equivalent basis with heating oil. Rates assume about 1000 ccf/month of gas consumption, about equal to 750 gall. of heating oil on a BTU-equivalent basis. These are the system expansion tariffs, which apply a surcharge to all residential conversions from heating oil to utility gas. The lower number applies if the home is within 150 feet of the gas main ("on main"), and the higher number applies if the home is more than 150 feet from the gas main ("off main").

Eversource (Yankee Gas): up unchanged from April
On Main: $2.29/gall.
Off Main: $2.54/gall.

CT Natural Gas: down 6 cents from April
On Main: $1.80/gall.
Off Main: $2.01/gall.

Southern CT Gas: down 10 cents from April
On Main: $1.75/gall.
Off Main: $1.94/gall.

Average All 3 Utilities down 5 cents from April
On Main: $1.95
Off Main: $2.17

According to the state survey of heating oil prices, the statewide average on May 4 was $1.734/gallon, down 30.7 cents from a month earlier and down a whopping $1.253 from pre-pandemic January 6 prices. Thus using real world numbers, the average heating oil price is $1.734/gall and the average gas price is $2.167/gall (off main expansion rate), which means a homeowner will lose 43.3 cents/gall and $345/year by converting to gas at these prices, and will never recoup the $7,500 cost of conversion.