Many people remember when heating oil was always cheaper than gasoline. Why are heating oil prices almost always higher than gasoline? Several reasons for sure but to summarize the relative supply of crude that favors gasoline and the demand for diesel and heating oil compared with the supply of each and the relative demand of gasoline vs heating oil-diesel-jet fuel.
Heating oil is moves along with crude prices in general. Yet demand and the ability of refiners to make diesel/heating oil is partially affected by the types of crude oil available for processing. Light crude that the United States is generating from fracking is more easily turned into gasoline than heating oil. Over supply of gasoline drives down gas prices while a commensurate decrease in heating oil supply drives up the price of diesel and heating oil. Notice the price of diesel at the pump and you get the indication of the heating oil prices relative to gasoline. Heating oil and diesel are interchanageble except for fuel burning additives.