average annual cost of oil fired central heating
Conventional House. Letâs start with your conventional house heated with an oil-fired central heating system. The average annual heating cost is $2,491! 1  The average New England home uses 855 gallons of oil a year for heat.# 2 2 Heating Oil has a net heating value of 115,000 BTUs per gallon, and generates 98.3 M BTUs.3  In 2010, the average price of a gallon of heating oil was $2.91.he average annual heating cost is $2,491! 1  The average New England home uses 855 gallons of oil a year for heat. # 2 2 Heating Oil has a net heating value of 115,000 BTUs per gallon, and generates 98.3 M BTUs.