I don't think oil will remain where it is for long. About 30 % of refinery capacity is scheduled to shut down this fall for maintenance. I'm thinking about $2.50 a gallon average, but that is just a guess. You need to convert the oil and pellets to dollars per million btus and then account for efficiency, that should give you an answer. The issue for pellets is that btus per ton can vary wildly between different wood types and brands. I haven't done the propane calculation recently, but except for the year oil was nuts, it usually edges propane when I do it. A large percentage of propane is made from oil Natural gas is the way to go if you can get it, although I think prices may be increasing this year for natural gas.
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