Commodity ratio · live
Heating Oil Futures to Ethanol Ratio
The heating oil futures to ethanol ratio is 2.071 — Heating Oil Futures at $4.39 per Gallan divided by Ethanol at $2.12 per Gallon.
Prices as of Aug 24, 2026, 11:28 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Heating Oil Futures to Ethanol ratio
1.000 Gal of heating oil futures = 2.071 Gal of ethanol
Inverse (ETHANOL/HO-FUT): 0.4829 — one Gallon of ethanol buys that much heating oil futures.
Above its 1 year average. (81th percentile of the last 1 year)
Heating Oil Futures
$4.39
per Gallan
Ethanol
$2.12
per Gallon
Unit basis: USD per Gallan ÷ USD per Gallon. The ratio reads as Gallons of ethanol per Gallan of heating oil futures. Prices as of Mon, 24 Aug 2026 11:28:28 GMT.
1Y average
1.699
median 1.715
1Y low
1.108
Aug 31, 2025
1Y high
2.355
Mar 20, 2026
Normal band
1.368–2.030
mean ± 1 std dev
Deviation from mean
+1.12σ
327 observations
Heating Oil Futures to Ethanol ratio charts
Pick a range once — it applies to the HO-FUT/ETHANOL ratio line, the OHLC candles and the Heating Oil Futures / Ethanol price chart below.
HO-FUT/ETHANOL ratio line
How many Gal of Ethanol one Gal of Heating Oil Futures buys, over 1Y.
HO-FUT/ETHANOL ratio candles
Open, high, low and close of the HO-FUT/ETHANOL ratio for each period in the last 1Y.
Heating Oil Futures and Ethanol prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the heating oil futures to ethanol ratio
Heating Oil Futures to Ethanol ratio = Heating Oil Futures price per Gallan ÷ Ethanol price per Gallon
The two legs use different units, so the result is a rate — Gallons of ethanol per Gallan of heating oil futures — rather than a plain count.
Worked example, live prices: $4.39 ÷ $2.12 = 2.071. The inverse is 0.4829.
The flagship commodity ratios
Each of these has its own dedicated page with live pricing, a full year of history and range statistics.
Live prices behind the ratio
| # | Symbol | Name | Rate (USD) |
|---|---|---|---|
| 1 | XAU | Gold | 4640.70 |
| 2 | XAG | Silver | 68.90 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.88 |
| 5 | NG-FUT | Natural Gas Futures | 2.78 |
| 6 | PL | Platinum | 1883.84 |
| 7 | PA | Palladium | 1350.90 |
Frequently asked questions
What is the heating oil futures to ethanol ratio today?
The heating oil futures to ethanol ratio is 2.071 — Heating Oil Futures at $4.39 per Gallan divided by Ethanol at $2.12 per Gallon, from live mid-market prices.
How do you calculate the heating oil futures to ethanol ratio?
Divide the heating oil futures price per Gallan by the ethanol price per Gallon. If the two units differ, the result is a rate rather than a plain count — read it as Gallons of ethanol per Gallan of heating oil futures.
What is the inverse of the heating oil futures to ethanol ratio?
The inverse, ethanol to heating oil futures, is 0.4829 — how many Gallans of heating oil futures one Gallon of ethanol buys.