About this chart: This is the daily chart of NYMEX October heating oil. This futures contract sets the price of diesel fuel. Note that October Heating Oil is trading 62¢ a gallon below nearby June Heating Oil. This suggests that diesel prices will move lower by this fall.
You can see ont the chart that fall diesel futures were trading at about $2.40 per gallon before the war with Iran started. October Heating Oil rallied to $3.58 per gallon in late April. This week, the price corrected down to $3.30 per gallon (down 28¢ from the late-April high). Support is now at $3.05 and then at $2.90 for the October Heating oil futures.
What does this mean for you: You are bought ahead on all energy needs through the second quarter of 2026 on the recommendation from October 18, 2025. Now buy hand-to-mouth. If fall diesel prices drop back 20 to 40¢ per gallon, then we will consider buying some or all of the third- and fourth-quarter energy needs. Right now, be patient.