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Oil, Gas, or Electric? {Fuel Cost Comparison}

mwarney's Avatar

Join Date: Sep 2005
Posts: 114

10-02-05, 04:41 AM   #1  
Oil, Gas, or Electric?

Hello people,

We currently have an oil fired water heater which is leaking from the drain valve. I have a few questions... They tell me that I need to replace the water heater because the valve is rusted to the point where it may break off if they try to tighten or replace it. The price for a new heater goes up from approximately $600 for electric, $1,500 for gas, and $2500 for oil. We currently have both gas service and oil service to the house so we could probably switch to gas fairly easily. 1) Is it worth the additional cost for an oil vs gas vs electric? Which is more economical? 2) If we stick with oil, can I simply replace the tank since there is nothing wrong with the burner itself? I am almost tempted to go to Sears and get a new electric for $300 bucks and put it in myself. Any opinions on which direction I should look into would be greatly appreciated!


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lzhang's Avatar

Join Date: Aug 2005
Posts: 247

10-13-05, 10:59 AM   #2  
Electric heater is too expensive. (bill)
Gas is good. Installation usually takes $500 - $600. Gas water heater itself might be $400 - $500 depends on its capacity.

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